Just In: UK Economy Enters Recession As GDP Drops By 0.3%

The UK’s Office for National Statistics (ONS) confirmed the contraction, marking a significant moment for the nation’s economic landscape.

This downturn has been described as the “mildest recession” the country has seen in the last 50 years, a characterization that, while indicating a recession, suggests a less severe economic decline compared to the steep drops of 1 percent and above that have occasionally been witnessed in the past.

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