"UK Enters Recession as Economy Shrinks in 2023"

The UK economy fell into recession at the end of 2023, with a sharper than expected 0.3% drop in gross domestic product (GDP) during the final three months of the year. This follows a 0.1% fall between July and September, and the economy grew by only 0.1% for the year as a whole. Prime Minister Rishi Sunak's pledge to grow the economy faces a setback, and Chancellor Jeremy Hunt is considering a larger squeeze on public spending to deliver tax cuts in the upcoming Budget.