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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 ...
Jeremy Hunt has announced the UK will not enter recession in 2023. The chancellor said the economy is “on the right track” as he delivered his Budget in the House of Commons on Wednesday (15 ...
The UK faces a collapse in living standards, higher bills, tax hikes and increased unemployment as the economy slumps into recession. Chancellor Jeremy Hunt told MPs he was having to make ...
The United Kingdom has slipped into recession just months ahead of a general election, official figures showed Thursday, derailing Prime Minister Rishi Sunak’s pledge to generate economic growth.
With the economy at risk of contracting in the next quarter, it leaves the UK at close risk of two consecutive periods of negative growth – a scenario that meets the definition of a recession.
The UK entered a technical recession in the final six months of 2023. [211] [212] Germany's inflation rate reached 11.7% in October 2022, the highest level since 1951. [213] In 2023, Germany fell into recession from January to March due to persistent inflation. [214] In France, inflation reached 5.8% in May, the highest in more than three ...
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The International Monetary Fund defines a global recession as "a decline in annual per‑capita real World GDP (purchasing power parity weighted), backed up by a decline or worsening for one or more of the seven other global macroeconomic indicators: Industrial production, trade, capital flows, oil consumption, unemployment rate, per‑capita investment, and per‑capita consumption".