UK economy narrowly avoids recession

The UK has narrowly avoided falling into recession, caller figures show, aft the system saw zero maturation betwixt October and December.

The system had shrunk by 0.3% betwixt July and September.

A recession is typically defined arsenic erstwhile the system shrinks for 2 consecutive three-month periods.

This usually means it is performing severely and companies whitethorn marque little wealth and chopped jobs, leaving the authorities with little taxation revenue.