News in Review Wednesday 21st February 2024 - HCR IFA
News in Review Wednesday 21st February 2024

News in Review Wednesday 21st February 2024

Data released last week from the Office for National Statistics (ONS) showed that UK gross domestic product (GDP) shrank by 0.3% in Q4 2023. Following a 0.1% contraction in Q3, the data shows that the UK slipped into a technical recession in the second half of 2023, measured by two consecutive quarters of GDP contraction. The fall in GDP in Q4 is steeper than expected, with economists widely predicting a milder 0.1% contraction.