US EditionUK economy shrinking: Is a recession inevitable?
- The UK's GDP fell by 0.1% in January, primarily due to a 0.9% drop in output from the production sector, as reported by the Office for National Statistics .
- Top economist Vicky Pryce warned that the UK could face a recession if the US economy deteriorates, highlighting potential vulnerabilities.
- Analysts described the January GDP report as a 'complete disappointment across the board,' indicating concerns about long-term economic growth.
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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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Total News Sources6
Leaning Left2Leaning Right3Center1Last UpdatedBias Distribution50% Right
Bias Distribution
- 50% of the sources lean Right
50% Right
L 33%
C 17%
R 50%
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