UK economy shrinking: Is a recession inevitable?
- The UK economy unexpectedly shrank by 0.1% in January, according to the Office for National Statistics .
- Rachel Reeves stated that Britain is 'feeling the consequences' of global events affecting economic growth.
- Labour has managed 0.3% growth overall since taking power, which is a point the chancellor aims to improve upon before the spring statement.
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UK economy shrinking: Is a recession inevitable?
The UK economy shrank unexpectedly in January - a blow to the Chancellor Rachel Reeves just a fortnight before she makes her Spring Statement. The 0.1% drop in GDP was largely due to a fall in manufacturing output - while hospitality, arts and entertainment were also down.
·London, United Kingdom
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Leaning Left2Leaning Right3Center1Last UpdatedBias Distribution50% Right
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50% Right
L 33%
C 17%
R 50%
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