Are We In A Recession 2024 Uk 2024

Are We In A Recession 2024 Uk 2024. Output fell 0.3 per cent month on month in october, suggesting the uk is at risk of a technical recession if there is a contraction. The combination of high inflation, falling real wages and a sharp rise in mortgage rates could belatedly push the uk economy into recession by the election.

With two quarters of gdp decline in the uk according to the current vintage of data, it’s reasonable to ask if the uk is in recession. New data reveals that the uk slipped into a technical recession at the end of last year, marked by a modest economic downturn in q4 2023.