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New figures due to show health of UK's economy - BBC News New figures confirm UK in recession - BBC News
(32 minutes later)
The UK economy fell into recession last year, revised official figures have confirmed.
Some critics argue GDP doesn't take into account whether the economic growth it measures is sustainable. Gross domestic product shrank by 0.3% between October and December.
Just because GDP is increasing, it doesn't mean an individual person's standard of living is improving. The Office for National Statistics also confirmed that the economy contracted by 0.1% between July and September.
If a country's population increases, it pushes GDP up, because with more people, more money will be spent. A recession is commonly defined as when the economy fails to grows over two consecutive quarters, or three month periods.
Unpaid work such as caring for children or elderly relatives isn't captured - neither is inequality.
GDP growth also doesn't show how income is split across a population - rising GDP could result from the richest getting richer, rather than everyone becoming better off.
Despite its limitations, GDP is still the most widely-used measure for most government decisions and international comparisons.
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