The economy narrowly avoided recession in the second half of last year, according to early official figures, despite growth going into a sharp reverse in December partly due to the impact of strikes and lack of Premier League football. The Office for National Statistics (ONS) reported that output between October and December was flat at 0%. A negative figure would have met the technical definition of a recession because the economy contracted over the previous three months to September as the cost of living crisis took a heavy toll on consumer spending. Economic activity has stalled largely as a result of energy-led ... (full story)