UK economy fell into recession at the end of 2023

The UK economy fell into recession during the final three months of last year, according to official figures.

Gross domestic product (GDP) - a key measure of economic activity - dropped by 0.3%, said the Office for National Statistics, which was a sharper fall than expected.

That follows a 0.1% fall between July and September.

The UK is considered to be in recession if GDP falls for two successive three-month periods - or quarters.

The figures will be a blow Prime Minister Rishi Sunak. Growing the economy was one of five pledges he made in January 2023. Meanwhile, Chancellor Jeremy Hunt is less than three weeks away from unveiling his latest Budget.