UK narrowly avoids recession in back half of 2022 despite December slump

[ad_1]

Christmas shoppers in London on Dec. 23, 2021.

Hasan Esen | Anadolu Agency | Getty Images

The U.K. economy showed no growth in the final quarter of 2022, but shrunk by 0.5% in December — more than expected by analysts.

The figures mean the country narrowly avoided a recession — commonly defined as two quarters of negative growth — following a 0.2% contraction in the third quarter.

This is a developing story and will be updated shortly.

[ad_2]

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *