Reino Unido PIB - Tasa de crecimiento trimestral

The UK's economy shrank by 0.3% in the final quarter of 2023, entering a technical recession for the first time since the aftermath of the COVID-19 outbreak in the initial half of 2020, as high inflation, record borrowing costs, and weak external demand weighed on demand and activity. Household consumption declined by 0.1% (vs -0.9% in Q3) due to lower spending on recreation and culture, household goods and services, transport, and clothing and footwear. Additionally, net trade contributed negatively to GDP as exports fell more than imports, along with inventory changes. On the other hand, fixed investment rose by 0.9%, rebounding from two periods of declines, boosted by increases in other buildings and transport. Finally, government consumption edged up 0.1%, marking a third period of growth, driven by higher spending on public administration and defense, which offset lower activity in education and health. On a yearly basis, the UK economy contracted by 0.2% in the fourth quarter.