
How has Britain avoided a recession?
For the past 18 months, the UK economy has been stuck in the purgatory of an eternally predicted but non-arriving recession. The Office of Budgetary Responsibility (OBR), Bank of England, and the IMF have been among those to have predicted recessions that have not – yet – happened. But now, for what it is worth (which, to judge by the history of economic forecasting, is not much), one often-pessimistic body has stuck its neck out and said that Britain will avoid a recession. The EY Item Club has upgraded its forecast for economic growth across 2023 from 0.4 per cent to 0.6 per cent. Next year, it says that growth
