I, and others, think we are already in a recession. One bank holiday isn’t going to make a drop of a difference especially since services sector is carrying the economy right now and during bank holidays, people spend on services.
The “two quarters in a row of declining GDP” is a rule of thumb type definition used to declare a recession, but it’s rather outdated as is the GDP calculation itself. So Jun was -0.6% and July was +0.2%, so “officially” not in a recession.
But honestly the economy is flat, wobbling slightly above and a little more below zero growth is a what I call a rocking chair recession.