Business

UK narrowly avoids recession in back half of 2022 despite December slump


Christmas shoppers in London on Dec. 23, 2021.Hasan Esen | Anadolu Agency | Getty ImagesThe U.K. economy showed no growth in the final quarter of 2022, but shrunk by 0.5% in December — more than expected by analysts.The figures mean the country narrowly avoided a recession — commonly defined as two quarters of negative growth — following a 0.2% contraction in the third quarter. This is a developing story and will be updated shortly.

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