UK economy to avoid recession this year, says Hunt

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6 minutes ago

The UK is expected to avoid a recession this year, according to the government's independent forecaster.

The prediction from the Office for Budget Responsibility (OBR) came as Chancellor Jeremy Hunt set out the government's growth plans in the Budget.

A recession is usually defined as when the economy shrinks for two three-month periods - or quarters - in a row.

The OBR also said inflation would more than halve to 2.9% by the end of 2023.

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