UK Economy ‘Not out of the Woods’ Despite Avoiding Recession: Chancellor

The UK is “not out of the woods” despite avoiding a recession by a tiny margin last year, Chancellor of the Exchequer Jeremy Hunt has warned.
The country’s GDP was flat in the last three months of 2022, according to new data released by the Office for National Statistics (ONS) on Feb. 10.
The ONS said that when counting to two decimal places, the UK eked out a tiny 0.01 percent growth in the fourth quarter. The figure might be revised in late March when the ONS looks again.
A negative GDP growth figure for the quarter would have pushed the economy into recession, which is defined as two consecutive quarters of declining GDP….
Source: The Epoch Times