As we move into the first months of a new year the Governor of the Bank of England said he was not overly concerned about a downturn, arguing that it was likely to be shallow and short-lived. This is after analysts expect official data to show the economy shrank by 0.1% for Q4 of 2023. It will be the second consecutive contraction, meaning the UK has fallen into a recession for the first time since the start of the pandemic.

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