UK Economy ‘Not out of the Woods’ Despite Avoiding Recession: Chancellor

People look at Canary Wharf financial district, from Greenwich Park, southeast London, on Feb. 10, 2023. Daniel Leal/AFP via Getty Images

The UK is “not out of the woods” despite avoiding a recession by a tiny margin last year, Chancellor of the Exchequer Jeremy Hunt has warned.

The country’s GDP was flat in the last three months of 2022, according to new data released by the Office for National Statistics (ONS) on Feb. 10.