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.

