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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 Mexican government declared that its economy technically had left the recession when the Mexican GDP grew by 2.93% in the third quarter of 2009. Mexico had been in a severe economic crisis for over a year prior to its economic rebound. The Mexican government also approved a $244 billion budget for 2010, a slight increase from 2009. [105]
The Great Recession was a period of market decline in economies around the world that occurred from late 2007 to mid-2009. [1] The scale and timing of the recession varied from country to country (see map). [2][3] At the time, the International Monetary Fund (IMF) concluded that it was the most severe economic and financial meltdown since the ...
The economic history of the United Kingdom relates the economic development in the British state from the absorption of Wales into the Kingdom of England after 1535 to the modern United Kingdom of Great Britain and Northern Ireland of the early 21st century. Scotland and England (including Wales, which had been treated as part of England since ...
The Great Depression in the United Kingdom also known as the Great Slump, was a period of national economic downturn in the 1930s, which had its origins in the global Great Depression. It was Britain 's largest and most profound economic depression of the 20th century. The Great Depression originated in the United States in late 1929 and ...
Gieve said he couldn't rule out the UK economy heading into a recession, adding the economy was "quite a long way" from the end of the slowdown. [83] Nationwide, the UK's biggest building society, warned the UK could head into a recession after house prices in July 2008 fell 8.1 percent from the previous year. Housing prices declined by 1.7 ...
Margaret Thatcher. Thatcher formed a government on 4 May 1979, with a mandate to reverse the UK's economic decline and to reduce the role of the state in the economy. . Thatcher was incensed by one contemporary view within the Civil Service that its job was to manage the UK's decline from the days of Empire, and wanted the country to punch above its weight in international
t. e. Black Wednesday, or the 1992 sterling crisis, was a financial crisis that occurred on 16 September 1992 when the UK Government was forced to withdraw sterling from the (first) European Exchange Rate Mechanism (ERM I), following a failed attempt to keep its exchange rate above the lower limit required for ERM participation.