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Transcripts For BBCNEWS BBC 20240704

the data from the office for national statistics shows the economy shrank by 0.3% in the final three months of last year. the chancellorjeremy hunt has blamed high inflation labour says the government s economic record is in tatters . it is thought that the dip may not last long, because the uk jobs market and wage growth remain strong. our chief economics correspondent dharshini david reports. it was a damn end of the year. from construction to manufacturing and retail, the biggest cost of living crunch in decades, and the higher interest rates deployed to combat that took their toll on spending, profits and output, pushing the economy further into reverse. what most would term a mild recession. we are all managing but it is hard sometimes, yes, as pensioners, everything sometimes, yes, as pensioners, everything is going up, but you just have to everything is going up, but you just have to live everything is going up, but you just have to live it to your means. we r

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