UK economy narrowly avoided recession last yearon February 10, 2023 at 8:47 am

The UK has narrowly avoided falling into recession, new figures show, after the economy saw zero growth between October and December.

The economy had shrunk by 0.3% between July and September.

A recession is typically defined as when the economy shrinks for two consecutive three-month periods.

This usually means it is performing badly and companies may make less money and cut jobs, leaving the government with less tax revenue.