The government “has no coherent policy to grow the economy”, warned a Cambridge Judge Business School economics expert following the news that the UK is now in recession. A recession is defined by two or more quarters in a row of falling gross domestic product (GDP). The UK fell into recession at the end of 2023 after a bigger-than-forecast contraction in the final three months. The data from the Office for National Statistics (ONS) estimated that gross domestic product (GDP) fell by 0.3 per cent in the fourth quarter, following a decline of 0.1 per cent in the previous three months. It marks …
