Jeremy Hunt says UK is not out the woods, after economy flatlines in final quarter of last year
Full story: UK narrowly avoids recession after figures show growth flatlining
Britain’s service sector had a rough December.
Services sector GDP shrank by 0.8% in December alone, today’s flurry of GDP data shows, which helped to drag the wider economy down by 0.5% in December.
“The economy contracted sharply in December meaning, overall, there was no growth in the economy over the last three months of 2022.
“In December public services were hit by fewer operations and GP visits, partly due to the impact of strikes, as well as notably lower school attendance. Meanwhile, the break in Premier League football for the World Cup and postal strikes also caused a slowdown.
Despite recent squeezes in household incomes, restaurants, bars and travel agents had a strong year.
“Meanwhile, health and education also began to recover from the effects of the pandemic.”
