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10th February 2023

Insolvency news | Latest GDP figures released today, show UK narrowly continues to avoid recession.

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Insolvency news | Latest GDP Figures show that UK continue to avoid recession.

10/feb/2023

According to the latest GDP figures released today, the UK has escaped recession by the smallest of margins after economic growth has flatlined in the final three months of last year.

The decline in gross domestic product (GDP) of 0.5% in December is offset by increases in November and October to leave the economy at roughly the same size as the previous quarter. The economy as a whole, still remains 0.8% below the pre-pandemic peak in 2019 and performance is below that of the US (5.1% growth) and the Eurozone (2.4% growth) for the same period.

Read full monthly GDP report at the ONS website here:
https://www.ons.gov.uk/economy/grossdomesticproductgdp/

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