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International Business Times
International Business Times
Business
Roland JACKSON

UK Economy Slides Into Recession Ahead Of Election

Finance minister Jeremy Hunt insisted the economy was 'turning a corner' (Credit: AFP)

Britain is in recession, official data showed Thursday, dealing another blow to embattled Prime Minister Rishi Sunak, whose Conservative party is forecast to lose a general election expected this year.

Gross domestic product shrank 0.3 percent in the fourth quarter of 2023 after contracting 0.1 percent in the prior three months, the Office for National Statistics (ONS) said in a statement.

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