UK economy to avoid recession this year, says Hunt

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

The Office for Budget Responsibility (OBR) prediction came as Chancellor Jeremy Hunt outlined the government’s growth plans in the budget.

A recession is usually defined as when the economy has contracted for two consecutive three-month periods — or quarters.

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