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 (
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