Foreign
UK Economy Officially Enters Recession As GDP Drops By 0.3%
The United Kingdom’s economy has entered a recession as its gross domestic product (GDP) fell by 0.3 percent in December 2023.
According to the UK’s Office for National Statistics, the fall in GDP was due to a decline in all main sectors of the economy.
This is the “mildest recession” witnessed in 50 years, unlike the huge drop of 1 percent and above sometimes seen, according to BBC.
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