UK economy in ‘a lot better shape’ than bleak figures suggest, fund manager says


People walk outside the Bank of England in the City of London financial district, in London, Britain, January 26, 2023.

Henry Nicholls | Reuters

LONDON — The U.K. has thus far avoided a widely anticipated recession, and the signs from the business world are that the economy may be holding up better than feared, according to veteran Schroders fund manager Andy Brough.

Figures published earlier this month showed that the U.K. GDP contracted by 0.5% in December, as the economy flatlined over the final quarter of 2022 to narrowly avoid a technical recession.

The Bank of England projects that the British economy has entered a shallow recession in the first quarter of 2023 that will last for…


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