Chancellor Jeremy Hunt says has warned that the UK economy is not out of the woods, after narrowly swerving a recession in the last quarter.
Hunt says the economy is showing more resilience than expected, pointing out that the UK’s 4% growth during 2022 is faster than other advaned economies.
He says:
“The fact the UK was the fastest growing economy in the G7 last year, as well as avoiding a recession, shows our economy is more resilient than many feared.
“However, we are not out the woods yet, particularly when it comes to inflation.”
