The Uk has narrowly avoided a recession, however tough times are still ahead for many Brits.

The UK has narrowly avoided a recession throughout 2022 despite falling GDP. According to ONS, GDP in the UK fell 0.5% in December, however, Q4 of 2022 ended flat in terms of growth. November helped avoid a recession as demand rose for consumable and recreational outings (such as pubs and restaurants) - partly to do with the world cup.  Total QoQ growth in Q4 was 0% vs -0.3% in Q3 meaning the UK is going through stagflation and not contracting at this current moment.

GDP figures are reported by the ONS on a monthly and quarterly basis to help measure growth in the UK for goods and services. You can find a full article on GDP here.