Recession

2024 - 2 - 15

UK Economy Plunges into Recession, Posing Challenges for Prime Minister Rishi Sunak

The United Kingdom's economy fell by 0.3% between October and December, ushering the nation into a recession just before an upcoming general election. The decline in GDP has sparked concerns and added pressure on beleaguered Prime Minister Rishi Sunak.

The British economy recently plunged into a recession, experiencing a steep 0.3% contraction between October and December, surpassing initial expectations. This economic downturn comes as a significant blow to Prime Minister Rishi Sunak, occurring mere months before a crucial general election. The UK's descent into recession has created a challenging backdrop for Sunak and his Conservative party, intensifying the pressures on their election campaign.

With the economy in a state of decline, the British pound experienced a slight dip as investors reacted to the recession news. The negative growth in GDP marks the first recession since the onset of the pandemic, underlining the financial challenges faced by the nation. Despite attempts to downplay the situation as a 'technical recession,' the impact is palpable, raising concerns about the country's economic trajectory.

In the aftermath of the recession, questions loom over the future of the UK economy in 2024. The downturn has left analysts speculating about the potential recovery measures needed to navigate the post-recession landscape. Furthermore, with the Conservative government's economic policies scrutinized amidst the recession, Prime Minister Rishi Sunak faces increasing pressure to address the economic downturn and present viable solutions.

In light of the economic challenges faced by the UK, the lack of growth and innovative strategies has led to criticism of the Conservative leadership. Rishi Sunak's ability to steer the economy out of recession and stimulate growth remains a pivotal issue as the nation grapples with the repercussions of the recent economic downturn.

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Image courtesy of "BBC News"

UK economy fell into recession at the end of 2023 (BBC News)

The economy shrank by 0.3% between October and December, in a sharper fall than expected.

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Image courtesy of "CNN"

Britain falls into recession (CNN)

The United Kingdom has slipped into recession just months ahead of a general election, official figures showed Thursday, derailing Prime Minister Rishi ...

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Image courtesy of "The Guardian"

Even a technical recession is a headache for Rishi Sunak (The Guardian)

Governments try to generate a feelgood factor before an election. The UK has the opposite: a feel-bad factor.

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Image courtesy of "Aljazeera.com"

UK economy slips into recession, official data shows (Aljazeera.com)

GDP shrank by 0.3 percent in the last three months of 2023, after contracting 0.1 percent in the third quarter.

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Image courtesy of "Reuters"

Sterling dips after data shows UK fell into recession (Reuters)

The pound fell slightly on Thursday after data showed the British economy fell into a recession at the end of 2023, causing investors to increase their bets ...

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Image courtesy of "Quartz"

UK fell into recession at the end of 2023 as output shrank more than ... (Quartz)

LONDON (AP) — The British economy fell into recession at the end of 2023 for the first time since the onset of the coronavirus pandemic, as output shrank ...

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Image courtesy of "NTV Kenya"

NTV Kenya: UK economy falls into recession (NTV Kenya)

Britain's economy fell into a recession in the second half of 2023, a tough backdrop for Prime.

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Image courtesy of "FRANCE 24"

UK economy slides into recession ahead of election (FRANCE 24)

Britain is in recession, official data showed Thursday, dealing another blow to embattled Prime Minister Rishi Sunak, whose Conservative party is forecast ...

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Image courtesy of "City A.M."

Why a recession does matter - and not just for Rishi Sunak (City A.M.)

A number of economists have tried to downplay the recession tag, labelling it a 'technical recession'. The argument is that the UK may have met the technical ...

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Image courtesy of "Financial Times"

UK economy slipped into recession in 2023 (Financial Times)

GDP fell 0.3% in final quarter of last year, dealing a blow to Rishi Sunak's election campaign.

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Image courtesy of "Reuters"

UK economy falls into recession, adding to Sunak's election challenge (Reuters)

Britain's economy fell into a recession in the second half of 2023, a tough backdrop ahead of this year's expected election for Prime Minister Rishi Sunak ...

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Image courtesy of "Business Daily"

UK economy falls into recession, adding to Rishi Sunak's election ... (Business Daily)

British Prime Minister Rishi Sunak speaks with business leaders during the first meeting of his Business Council inside 10 Downing Street, central London on ...

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Image courtesy of "The East African"

UK economy falls into recession, adding to Rishi Sunak's election ... (The East African)

British Prime Minister Rishi Sunak speaks with business leaders during the first meeting of his Business Council inside 10 Downing Street in Central London, ...

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Image courtesy of "BBC News"

UK recession: UK economy fall into recession for end of 2023 - BBC ... (BBC News)

Recession dey happun wen di kontri gross domestic product or GDP bin get negative growth for, most times, two consecutive quarters.

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Image courtesy of "Reuters"

What can we expect from the UK economy in 2024 after recession? (Reuters)

LONDON, Feb 15 (Reuters) - British Prime Minister Rishi Sunak suffered a pre-election setback on Thursday when data showed the economy fell into a recession ...

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Image courtesy of "Citizen Digital"

Britain falls into recession, with worst GDP performance in 2023 in ... (Citizen Digital)

The United Kingdom has slipped into recession just months ahead of a general election, official figures showed Thursday, derailing Prime Minister Rishi ...

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Image courtesy of "The Guardian"

The Guardian view on the UK recession: no growth and no ideas ... (The Guardian)

Editorial: The Conservatives have presided over a shrunken British economy, and Rishi Sunak does not have a clue how to make it grow again.

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Image courtesy of "Citizen Digital"

Britain falls into recession, with worst GDP performance in 2023 in ... (Citizen Digital)

The United Kingdom has slipped into recession just months ahead of a general election, official figures showed Thursday, derailing Prime Minister Rishi ...

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Image courtesy of "Reuters"

White House's Brainard says US won't follow Japan, UK into recession (Reuters)

The U.S. will not follow Britain and Japan into recession because of a fundamentally stronger recovery that has enabled healthy consumer spending, ...

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Image courtesy of "The East African"

Japan slips into recession, Germany now world's third-biggest ... (The East African)

"What's particularly striking is the sluggishness in consumption and capital expenditure that are key pillars of domestic demand," said Yoshiki Shinke, senior ...

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Image courtesy of "Axios"

Recession reality hits major economies (Axios)

Animated illustration of a downward trending market trend line that plateaus and then stops, at. Illustration: Aïda Amer/Axios. Japan and the U.K. each saw ...

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Image courtesy of "The New York Times"

Japan's Economy Slips Into Recession and to No. 4 in Global Ranking (The New York Times)

A slowdown in consumer and business spending held Japan back at the end of last year, with the economy contracting for the second straight quarter.

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Image courtesy of "Resolution Foundation"

Recession watch • Resolution Foundation (Resolution Foundation)

And we've got a recession special from myself and James Smith (who runs our macroeconomic work), unpacking today's gloomy GDP stats with everything you need to ...

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Image courtesy of "Reuters"

UK shoppers pick up their spending, signalling quick end to recession (Reuters)

British retail sales jumped by the most in almost three years in January as consumers recovered their appetite for spending, suggesting the economy could ...

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Image courtesy of "Sky News"

Surprise surge in retail sales suggests economy is growing - despite ... (Sky News)

January had the largest recovery in retail sales since April 2021 as people bought more across all sectors, except clothing.

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Image courtesy of "Yahoo Movies"

UK retail sales jump, suggesting recession will be short-lived (Yahoo Movies)

LONDON (Reuters) -British retail sales rose by a stronger-than-expected 3.4% in January, according to official figures that showed signs of strength among ...

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Image courtesy of "CNBC"

British retail rebound provides some hope for recession-hit economy (CNBC)

The “strong pick up in sales suggests the worst is now behind the retail sector and falling inflation and rising wages in 2024 will provide a strong platform ...

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Image courtesy of "The New York Times"

U.K. Economy Tipped Into Recession as 2023 Ended (The New York Times)

Growth contracted 0.3 percent from October to December, the latest sign of a lackluster economy slowed by weak retail sales.

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Image courtesy of "CNN"

Japan and the UK are in recessions. Is the US next? (CNN)

Consumer spending is one of the main drivers of economic growth in the US. Ash Ponders/Bloomberg/Getty Images. New York ...

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Image courtesy of "Fortune"

The U.K. and Japan have slumped into recession while the U.S. ... (Fortune)

Both Japan and the United Kingdom said their economies likely weakened during the final three months of 2023.

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