UK economy fell into recession in second half of 2023

Britain's economy entered a recession in the second half of 2023 after it shrank by a worse-than-expected 0.3% in the three months to December having also contracted by 0.1% between July and September, official data showed on Wednesday. The Bank of England has said it expects the economy to pick up in 2024. However, slow growth this year would still represent a difficult backdrop for Prime Minister Rishi Sunak's attempts to woo voters ahead of a national election expected later in 2024.