Categories: International

UK economy narrowly avoids recession

The UK has narrowly avoided falling into recession, new figures show, after the economy saw zero growth between October and December.

The economy had shrunk by 0.3% between July and September.

A recession is typically defined as when the economy shrinks for two consecutive three-month periods.

This usually means it is performing badly and companies may make less money and cut jobs, leaving the government with less tax revenue.

BBC

Trends Admin

Recent Posts

Two Buses Carrying NYSC Prospective Corps Members Attacked, Passengers Abducted in Imo

Two Buses Carrying NYSC Prospective Corps Members Attacked, Passengers Abducted in Imo   Families panic…

7 hours ago

Bandits Kill Man, Abduct Wife, Children, Seven Others in Kaduna Community

Bandits Kill Man, Abduct Wife, Children, Seven Others in Kaduna Community Suspected bandits have killed…

7 hours ago

Nollywood Mourns as Actor Cjay Nwokafor Dies Suddenly

Nollywood Mourns as Actor Cjay Nwokafor Dies Suddenly The Nollywood industry has been thrown into…

7 hours ago

Nigeria at 66: Peter Obi Laments Poverty, Insecurity, Says ‘Worst Place to Be Born’

Nigeria at 66: Peter Obi Laments Poverty, Insecurity, Says ‘Worst Place to Be Born’ Presidential…

7 hours ago

Workers to Begin Nationwide Warning Strike Over Petrol Price, Wage Award

Workers to Begin Nationwide Warning Strike Over Petrol Price, Wage Award Public servants across the…

8 hours ago

Nigeria at 66: MURIC Urges Unity, Peace, Justice Ahead of 2027 Elections

Nigeria at 66: MURIC Urges Unity, Peace, Justice Ahead of 2027 Elections The Muslim Rights…

9 hours ago