Economic experts are forecasting that Gross Domestic Product will have edged 0.1% lower in the final quarter of 2012, and there are concerns a snow-hit start to 2013 will see the UK head back into recession.
Friday's figures from the Office for National Statistics follow a run of grim economic indicators, with the retail, services and construction sectors all suffering in the final quarter of 2012.
A decline in the last three months would be a sharp reversal of the 0.9% recovery seen in an Olympics-fuelled third quarter.
Today, the Ernst & Young ITEM club will say in its latest report that growth will be anaemic at best this year, forecasting 0.9% in 2013 before gaining momentum in 2014 and 2015, when GDP is expected to grow by 1.9% and 2.5% respectively.
The National Institute of Economic and Social Research has already given its gloomy assessment of fourth-quarter performance, predicting a 0.3% contraction at the end of last year.
The Markit/CIPS purchasing managers' index survey found the powerhouse services sector shrank last month for the first time in two years.