UK Economy Escapes Recession In Final Quarter Of 2022

According to press reports, the UK narrowly avoided falling into recession in 2022 after the economy saw zero growth between October and December.

The Office for National Statistics says this is despite a sharp 0.5% fall in economic output during December, partly due to strike action.

Chancellor Jeremy Hunt said the figures demonstrated underlying resilience but that the country was far from out of the woods.

The Bank of England continues to forecast that the UK will enter a recession this year.

But it thinks it will be shorter and less severe than previously forecast.

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Edited by Jesus Chan

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