The UK may very well be dealing with the longest interval of recession since dependable data started a century in the past, the Financial institution of England has warned.
The financial system may fall into eight consecutive quarters of unfavorable development if present market expectations show right – with development solely coming again in the course of 2024.
Nevertheless, it’s anticipated to be a milder recession than in earlier instances. From its highest to lowest level, GDP is anticipated to drop 2.9 per cent – a smaller lower than the 6.3 per cent fall seen within the 2008 monetary disaster.
