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Insider UK
Insider UK
Business
August Graham & Peter A Walker

UK narrowly avoids recession as the economy flatlines at the end of 2022

The UK’s economy flatlined in the last three months of 2022, helping it to avoid a recession by the thinnest of margins.

The Office for National Statistics (ONS) recorded 0.0% growth in Gross Domestic Product (GDP) in the fourth quarter.

Anything below zero would have pushed the economy into recession - generally defined in the UK as two quarters of declining GDP in a row - and the economy contracted 0.2% in the third quarter.

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