UK economy shows zero growth in final quarter of 2022

British gross domestic product was unchanged in the final three months of 2022, figures from the Office for National Statistics showed on Friday.

Economists polled by Reuters had forecast zero growth for the fourth quarter of the year.

The Bank of England forecast last week that Britain would enter a shallow but lengthy recession, starting in the first quarter of this year and lasting five quarters.


British living standards have been hammered by a surge in inflation, which hit a 41-year high of 11.1% in October, and firms and households will also feel an increasing impact from the BoE's rapid increase in interest rates since December 2021.