Ultimately, the UK escapes the recession, despite economists’ predictions. The Bank of England predicted zero growth in the economy, and the latest statistics prove this to be true. However, this is no reason to rejoice.
Why is this important?
There are recession fears everywhere, including in the UK. Although the country was able to avoid two consecutive quarters of contraction, the question remains unanswered: Is the postponement also a cancellation?In the news: UK GDP in the third quarter remained unchanged from the previous quarter.
- This was stated by the Office for National Statistics GDP is stagnantJust as the Bank of England expected.
- Consumer spending, business investment and government spending fell in the third quarter. The recession can be attributed to improved trade: exports from the UK increased while imports decreased. Therefore, there is no turning back
This featured article is exclusive to subscribers
Now read 3 articles for free per month!
Do you think about the future, about the future of tomorrow? Business AM is your guide through change. Don’t follow the facts and be part of the fastest growing business site in Flanders.
Are you already a subscriber? Log in and get access to all featured articles.
See also Pop star Ed Sheeran defends himself in plagiarism case by playing (single guitar chords from) "Thinking Out Loud" in court
Steeds opzegbaar
Al abonnee? Log inLog in en krijg toegang tot alle premium artikels.
Al abonnee? Log in en krijg toegang tot alle premium artikels.
