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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 UK will be in a recession until the end of 2023 as triple whammy of high inflation, low growth and weak investment by businesses weighs down the economy.. The Confederation of British Industry ...
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.
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.
Meanwhile, salaries have now grown faster than prices for seven consecutive months. Average wages excluding bonuses grew at an annual rate of 6.2% in the three months to December, according to the ...
Official data is predicted to reveal that the UK economy contracted for the second quarter in a row in the final three months of last year. UK set to have slipped into recession at end of 2023 ...
This recession was one of the main causes of the American Civil War, which would begin in 1861 and end in 1865. This is the earliest recession to which the NBER assigns specific months (rather than years) for the peak and trough. [6] [8] [21] 1860–1861 recession October 1860 – June 1861 8 months 1 year 10 months −14.5% —
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 ...