UK narrowly avoids recession in back half of 2022 despite December slump
Christmas shoppers in London on December 23, 2021.
Hasan Esen | Anadolu agent | beautiful pictures
The UK economy did not grow in the final quarter of 2022, but shrank by 0.5% in December – more than analysts had expected.
The figures mean the country narrowly avoided a recession – usually defined as two-quarters of negative growth – after a 0.2% decrease in the third quarter.
This is a developing story and will be updated shortly.