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Britain’s economy slipped into a recession at the end of 2023 after output contracted by more than expected in the final three months, according to official figures.
Experts warn slump in economy could soon overtake cost of living as main worry for UK
According to projections published Thursday, the Bank of England now expects UK GDP to grow 0.5% this year, double the pace it forecast in February. By comparison, last year, GDP increased by a ...
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.
Central bank confirms further 0.5 per cent hike, bringing base rare to 4 per cent
The UK economy is in a “horrible fiscal bind” as it heads for recession with no room to cut taxes or increase public spending to offer a boost, an influential group of economists has said.
The Prime Minister told workers at a warehouse in Dartford, Kent: “Yesterday you would have heard some news about inflation, today you may have seen what the Bank of England has announced with ...
The UK economy is on track to shrink by 1.3% in 2023 amid a recession which is set to last until the end of next year, according to a new economic forecast.