The UK records zero growth in the fourth quarter

The UK records zero growth in the fourth quarter

The British economy did not register an increase during the last three months of last year. The result prevents a recession in the country

The UK economy was stagnant in the fourth quarter of 2022. The information was published on Friday by ONS (Office for National Statistics). here complete For the report (509 KB).

In December 2022, GDP fell by 0.5% compared to the previous month, after growth of 0.1% in November. In 2022, GDP increased by about 4%.

On Thursday (February 9), Treasury Secretary Jeremy Hunt wrote an op-ed for the British newspaper The Economist He said that the United Kingdom has achieved great achievements in the fields of education, technology and science that have helped the world. However, according to the advisor, the country “It also has structural weaknesses that, if summed up in two words, would be low productivity.”. He revealed a plan of 4 pillars to increase productivity.

Hey Bank of England more Raising the interest rate to 4% to contain inflation 10.5%.

In an interview conducted on Friday (February 10) with the BBC BBCThe Chancellor said that high inflation remains a problem and continues to cause ““Pain for families across the country.”.

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