Nigeria, Feb. 15 -- The United Kingdom (UK) economy slipped into recession at the end of 2023, figures released by the Office for National Statistics (ONS), officially confirmed Thursday.

According to the report, the UK real gross domestic product (GDP) is estimated to have fallen by 0.3 per cent in the fourth quarter of 2023.

This, it said, follows an unrevised estimated fall of 0.1 per cent in the previous quarter.

"Across quarter 3 (July to Sept) and Quarter 4 2023, we estimate that the UK economy contracted by a cumulative 0.5 per cent. Compared with the same quarter a year ago, real GDP is estimated to have fallen by 0.2 per cent," the report said.

The report explained that the UK GDP is estimated to have increased by 0.1 per cen...