UK GDP fell by 0.3% in the fourth quarter and confirms a recession in the country

UK GDP fell by 0.3% in the fourth quarter and confirms a recession in the country

The result was slightly worse than expected by the consensus of analysts at LSEG, who estimated a decline of 0.1% in the period. In 2023, the UK economy was close to flat, growing by just 0.1%

The UK's GDP contracted by 0.3% in the fourth quarter of 2023 compared to the previous three months, according to preliminary data released on Thursday (15) by the Office for National Statistics, the country's statistics body. The result was slightly worse than expected by the consensus of analysts at LSEG, who estimated a decline of 0.1% in the period.

Since British GDP actually fell by 0.1% in the third quarter compared to the second quarter, the data released today means that the UK economy entered a technical recession at the end of last year.

Compared with the same quarter in 2022, UK GDP contracted by 0.2% in the fourth quarter, the Office for National Statistics reported. In this case, the consensus was for an increase of 0.1%.

Master class

Promising stocks on the stock exchange

Download our list of 10 small-cap stocks that, in expert opinion, have upside potential in the coming months and years, and watch a free lesson

Throughout 2023, the UK economy remained close to stable, growing by just 0.1% compared to 2022.

See also  I hit 12 DF bets at Mega Sina's "Ray" on Saturday

You May Also Like

About the Author: Camelia Kirk

"Friendly zombie guru. Avid pop culture scholar. Freelance travel geek. Wannabe troublemaker. Coffee specialist."

Leave a Reply

Your email address will not be published. Required fields are marked *