Recession In Uk 2024

Recession In Uk 2024. Official data confirms uk economy slipped into recession last year. The bank of england has warned the uk is facing its longest recession since records began, as it raised interest rates by the most in 33 years.

The latest official figures suggest the uk’s economy stalled and then slipped into reverse over the summer, raising the risk that it edged into recession at the end of. The combination of high inflation, falling real wages and a sharp rise in mortgage rates could belatedly push the uk economy into recession by the election.