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.
But Brough, head of the pan-European small and mid-cap team at British asset manager Schroders, said that his interactions with businesses suggested greater resilience than the weak GDP figures and official forecasts imply.
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