The British economy did not record any growth in Q4

Data published by the British Office for National Statistics today, Friday, showed that the country’s gross domestic product did not witness any change in the last three months of 2022.

Economists polled by Reuters had expected zero growth in the fourth quarter of the year.

Last week, the Bank of England predicted that Britain would enter a period of slight recession, but it would be long, starting in the first quarter of this year and lasting five quarters.

Living standards in Britain are affected by the rise in inflation, which reached the highest level in 41 years at 11.1% in October, and companies and individuals are also feeling an increasing impact from the rapid rise in interest rates by the Bank of England since December 2021.