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This is a list of recessions (and depressions) that have affected the economy of the United Kingdom and its predecessor states. In the United Kingdom a recession is generally defined as two successive quarters of negative economic growth, as measured by the seasonally adjusted quarter-on-quarter figures for real GDP. Name Dates Duration Real GDP reduction Causes Other data Great Slump c. 1430 ...
The following articles contain lists of recessions: List of recessions in the United Kingdom; List of recessions in the United States
[5] [6] In the United Kingdom and Canada, a recession is defined as negative economic growth for two consecutive quarters. [11] Governments usually respond to recessions by adopting expansionary macroeconomic policies, such as increasing money supply and decreasing interest rates or increasing government spending and decreasing taxation.
And just like that, two of the world’s largest economies are in technical recessions.
List of recessions in the United Kingdom; Lists of recessions; 0–9. 99ers; 1973–1975 recession; 2014 Brazilian economic crisis; A. 1998–2002 Argentine great ...
The recession of 2020, was the shortest and steepest in U.S. history and marked the end of 128 months of expansion. Key Predictors, Indicators and Warning Signs of a Recession
UK unemployment more than doubling to a peak rate of 8.5%. Interest rates spiking to 6% in early 2023 before gradually reducing to under 3.5%. Housing market crash with property prices plummeting ...
January 23, 2009: United Kingdom; The UK officially enters the recession as GDP fell by 1.5% in the last quarter of 2008 following a 0.6% drop in the third quarter, [66] with unemployment growing by 131,000 to 1.92 million (6.1%) in the three months leading to November 2008. [67] The British economy only grew 0.7% in 2008, the weakest growth ...