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Revised GDP figures confirm UK economy fell into a recession last year
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Revised estimates of quarterly GDP, which use additional data to provide a more precise indication of economic growth, showed that the economy shrank by 0.3% in the last three months of 2023, in line with the earlier estimate. Q3's 0.1% fall remained unchanged, confirming a technical recession, which is described as two consecutive quarters of negative growth. Deep Dive: UK economy shows signs of rebound but long-term growth outlook remains 'unspectacular' A large contributor to the technical recession seen in the final six months of 2023 was the sharp rise in interest rates from t...
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