However, experts say the slump in growth is insufficient to warrant a back-to-back rate cut.

UK GDP grew 0.5% month-on-month in February, following a 0.1% fall in January

Nearly half (47%) of brokers report heightened SME recession fears, up 12 points in the last quarter.

Following two successive months of stagnation, the UK economy grew by 0.2% in August according to this morning's figures from the Office for National Statistics.