Official figures released on Thursday show that the United Kingdom has entered into a recession just months before a general election, undermining Prime Minister Rishi Sunak's promise to generate economic growth. The Office for National Statistics reported a 0.3% decrease in gross domestic product in the final quarter of 2023, following a 0.1% contraction in the previous quarter. This decline in economic activity was primarily driven by falls in manufacturing, construction, and wholesale, although there were some increases in the hotel and rental sectors. The UK's GDP only grew by 0.1% in 2023, marking the weakest performance since 2009, excluding the pandemic-affected year of 2020. This news is likely to disappoint Sunak and could potentially bolster the Labour Party's lead in opinion polls ahead of the upcoming national election. Economists predict that the UK's recovery will be slow and unimpressive, as evidenced by stagnant productivity growth in 2023.
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