UK not in recession, new figures suggeston September 30, 2022 at 9:21 am

The UK’s economy grew in the second quarter of this year, contrary to an initial estimate of a contraction, according to revised official data.

Economic output rose by 0.2% between April and June, revised up from a previous reading of -0.1%, the Office for National Statistics said.

It suggests the UK is not currently in recession, as was predicted by the Bank of England earlier this month.

A recession is defined by two consecutive quarters of decline.