The U.K economy remained stagnant in the last quarter of 2022 according to the Office of National Statistics.

The flat economy meant that the U.K. avoided falling into recession.

The new figures showed the economy saw zero growth between October and December but strikes across the country including health, trains, border force, and Royal Mail did take an effect, with December seeing growth contract by 0.5 percent. Most sectors we're stagnant with the construction sector seeing a growth of 0.3% however, this was offset by a 0.2% decline within the production sector. Output overall slowed, with services, transport, and education sectors all slowing to a flat output.

Darren Morgan, director of economic statistics at the Office for National Statistics, said: "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."

The Federation of Small Businesses (FSB) Policy Chair Tina McKenzie said:

"While it is positive that the UK has technically avoided a recession in the second half of last year, the news will come as cold comfort to many thousands of small businesses news was scant reward for small businesses as energy and inflation fears still remain.

"In particular, the 0.5% fall in GDP in December is a red flag showing the economy stalled at the end of 2022, just when small firms were hoping for a traditional festive boost.

"Looking ahead, the IMF and the Bank of England both predict a contraction in the size of the UK's economy this year, leaving small firms facing a long period without growth. Just next month, many small firms who fixed their energy bills last summer as prices rocketed are worried that they will see three- or four-fold increases when the Government's Energy Bill Relief Scheme shuts down, making a number of them unviable."

The latest figures however did show that the North West's GDP grew by 0.4 percent in quarters 2 and 3 of 2022 and the unemployment rate remained at 3%, slightly above the national average.

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