Recession is now very close for the UK

Recession is now very close for the UK

As in many other countries, the UK is not doing well economically. This country saw the economy contract by 0.3 percent in the third quarter. If that also happened in the fourth quarter, the country would (theoretically) be in recession.

Why is this important?

Central banks around the world raise interest rates to curb inflation. This tightening fiscal policy increases the risk of a recession, because higher interest rates mean less money flows into the economy. In Europe, we will also have to deal with an energy crisis.

in the newsThe UK economy shrank 0.3% in the third quarter

  • The contraction came after little growth in the second quarter. After reviewing the growth figure, it appears that the UK economy grew by 0.2%. Initially, there was a 0.1 percent decrease.
  • In any case, the growth numbers do not paint anything but a positive picture. In theory, if economic growth is negative in the fourth quarter as well, there is talk of a recession (

This special item is exclusive to subscribers

Become a subscriber and instantly get unlimited access to all articles. now from 1.99 € per month.

Already subscribed? Log in and access all premium articles.
See also  Michael Dukakis warns Joe Biden not to choose polls as well severely

Leave a Reply

Your email address will not be published.