British economy narrowly avoids recession

British economy narrowly avoids recession – data ...News

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GDP showed no growth in the fourth quarter, but contracted by 0.5% in December, official statistics show The UK economy demonstrated no growth in the fourth quarter of last year, narrowly avoiding recession at the end of 2022, the Office for National Statistics (ONS) revealed on Friday. Flat GDP, which had been forecast by analysts, followed a 0.3% contraction in the previous quarter. Another contraction would have meant the UK had dropped into a technical recession, with two consecutive quarters of decline. However, the British economy saw a month-on-month decline of 0.5% in December, the ONS reported. The contra

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Last updated : 10 February 2023 clock 01:45 PM

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British economy narrowly avoids recession – data ...News

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