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Investing.com -- The UK economy experienced a stronger recovery from the coronavirus pandemic than previously calculated, according to revised official estimates released by the Office for National Statistics.
The updated figures show that gross domestic product in the fourth quarter of 2023 was 2.2% above end-2019 levels, higher than the earlier estimate of 1.9%.
The ONS data also revealed that the economic contraction during the first year of the pandemic was less severe than initially thought.
The UK economy shrank by 10% rather than the previously reported 10.3%.
Government spending estimates for the pandemic’s first year were also revised upward in the new assessment, contributing to the improved overall economic picture.
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