10 Feb 2023

UK economy narrowly avoids recession – but for how long?

Many economic experts predicted that the UK would dip into recession in the second half of last year.

Latest figures show that they were wrong. But only just – with GDP growth in October, November and December barely registering.

The Chancellor Jeremy Hunt said that it showed evidence of “underlying resilience” but warned that the economy is “not out of the woods yet”.

And the Bank of England still expects the UK to plunge into recession later this year.