Technically, a recession is defined as two successive quarters of what is known as 'negative growth.'
For this to happen, the amount of goods and services produced by the UK - our gross domestic product (GDP) - would have to contract on a quarter by quarter basis for a total period of six months.
The UK's shrinking economy has left many business owners unsure of where the economy, the government and their livelihoods are going next.
ITV News has been speaking to people in Swansea where the economic outlook is no brighter than the weather
A point here or there doesn't signal disaster. It is a statistical event. However you phrase it the fact is - the economy is stuck