2024 Recession Uk. The uk exited recession after the economy grew over the first three months of 2024, following a contraction over the second half of 2023. The office for national statistics (ons) said the economy grew 0.1% across 2023 compared with 2022.
Inflation and higher interest rates weighed in 2023; Uk economy slips into recession, official data shows britainโs gross domestic product shrank by 0.3 percent in the last three months of 2023, after.