---
title: "UK at risk of recession as growth revised down"
publisher: "Share Talk"
author: "sharetalk"
published: "2023-12-22T07:40:38+00:00"
modified: "2023-12-22T07:40:38+00:00"
date: 2023-12-22
canonical: "https://www.share-talk.com/uk-at-risk-of-recession-as-growth-revised-down/"
category: "B2B"
categories: ["B2B", "Blogs", "Business & Support Services", "Technology", "Technology, Media & Telecoms"]
tags: ["Bank of England", "economic", "GDP", "Gross Domestic Product", "recession", "UK"]
image: "https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/12/economy-22_12_23.jpg?fit=1200%2C800&quality=89&ssl=1"
format: "news"
language: "en-GB"
---

# UK at risk of recession as growth revised down

**Published:** December 22, 2023
**Author:** sharetalk
**Categories:** B2B, Blogs, Business & Support Services, Technology, Technology, Media & Telecoms
**Tags:** Bank of England, economic, GDP, Gross Domestic Product, recession, UK
**Featured image:** ![](https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/12/economy-22_12_23.jpg?fit=1200%2C800&quality=89&ssl=1)

---

Official statistics indicate that the UK is on the brink of a recession, as revised figures show a downturn in economic performance.

The Office for National Statistics reports a 0.1% decrease in Gross Domestic Product (GDP) for the quarter ending in September, a revision from initial estimates of no growth. Further, the economy is believed to have contracted by 0.3% in October, suggesting the possibility of a decline in the fourth quarter as well.

A technical recession is defined as two successive quarters of economic shrinkage.

Additionally, the UK’s economy reportedly experienced no growth in the second quarter, a downward revision from the initially estimated 0.2% increase. This situation may compel the Bank of England to consider reducing interest rates early in the following year to mitigate a more severe economic slump.

In related news, recent statistics revealed a drop in inflation to 3.9% in November, amidst the challenge of dealing with the highest interest rates in 15 years, standing at 5.25%.

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