UK avoids recession but ‘not out of woods’ over inflation

BRITAIN’S economy avoided recession after flatlining in the last three months of 2022, but finance minister Jeremy Hunt warned today it was “not out of the woods yet” over surging inflation.

Gross domestic product registered zero growth in the fourth quarter, in line with expectations after shrinking 0.3% in the previous three months, the Office for National Statistics (ONS) said in a statement.