Is The Uk In A Recession 2024

Is The Uk In A Recession 2024. The uk is believed to have slipped into recession at the end of last year after a weak december for the country’s economy, official figures are set to show. The uk will face one of the worst recessions and weakest recoveries in the g7 in the coming year, as households pay a heavy price for the government’s policy failings, economists say.

The bank of england has warned the uk is facing its longest recession since records began, as it raised interest rates by the most in 33 years. The economy shrank 0.1% between july and september last year and then by a further 0.3%.