The Prime Minister denied the claim by Labour leader Ed Miliband during their weekly clash in the Commons.
He said the latest official figures - which show the economy shrank by 0.2% between October and December - were due to the "overhang" of the deficit and the eurozone crisis.
There is "not one ounce of complacency" on the Government benches, he told MPs.
"This is the year we have to take further action to get our economy moving, but the most important thing is to have a credible plan to get on top of the deficit which has given us the lowest interest rates for over a hundred years," he said.The Labour leader chose the economy and health as the focus of his questions
He was responding to Mr Miliband's remark that both he and Chancellor George Osborne were a "byword" for smug complacency.
The Labour leader also pressed the Prime Minister on the coalition's Health and Social Care bill, claiming it still does not have the support of health professionals.
"This is a bill nobody wants. It's opposed by the doctors, the nurses and the patients," he said, adding Mr Cameron should "put aside your pride" and scrap it altogether.
But the Prime Minister hit back by saying thousands of GPs across the country support the Government's plans and are already putting them into practice.
Backbench MPs used the session as a chance to raise a host of other issues including the Government's defeat in the Lords on the planned benefit cap and Scottish independence.
The Commons clash followed opinion polls suggesting the Labour leader's personal ratings are at their lowest level.