Gross domestic product (GDP), the value of all the goods and services produced in the country, fell by a revised 0.3% against the 0.2% decline initially estimated from July to September, the Office for National Statistics said.

The official definition of a recession is two consecutive quarters of negative growth. It would happen should the economy also contract in the fourth quarter of this year.

The manufacturing and construction sectors performed worse than originally thought.

Manufacturing activity contracted 2.8%, worse than the 2.3% contraction previously announced, while construction activity actually shrank 0.2% rather than grew 0.6%, which had been recorded in November.

Electricity generation too was described as "notably weaker" by the director of economic statistics at the ONS.

Household incomes continued to fall, though the rate of decline slowed compared to the first two quarters of 2022 and household spending fell for the first time since the final spring lockdown of 2021.

The amount of households' disposable income fell by 0.5% in the quarter, the fourth consecutive drop.

Household spending fell by a revised 1.1% in the quarter as declines in tourism, transport, household goods and services, and food and drink spending were seen.

A slowing in real consumption expenditure was seen over the past year including in restaurants and hotels, and recreation and culture as a result of that reduced disposable income and the cost of living crisis, fuelled by high inflation.

The figures were blamed on high inflation which was caused by the invasion of Ukraine, Chancellor of the Exchequer Jeremy Hunt said.

"High inflation driven by Putin's invasion of Ukraine is slowing economic growth across the world. No country is immune, least of all Britain."

"Getting prices down so people's wages go further is my top priority, which is why we are holding down energy bills this winter and providing extra cost of living payments for the most vulnerable," he added.

"To get the British economy back on track, we have a plan that will help to more than halve inflation next year, while laying the foundations for long-term growth through record investment in infrastructure and new industries."

Many believe the UK economy to already be in recession. Groups such as the Confederation of British Industry (CBI) have forecast the economy to contract 0.4% next year.

But the first month of the final quarter of this year showed growth. Growth of 0.5% was recorded in October, ONS figures showed. It was a stronger performance than expected by economists and was explained by the number of working days returning to normal rather than any real surge in output.

The economy is still expected to be confirmed as entering a recession at the end of the year as the quarter as a whole is forecast to have experienced negative growth.

It's expected to be the worst performing than any of the other G7 countries that form the group of the world's largest industrialised democracies, according to forecasts from the Organisation for Economic Cooperation and Development (OECD).