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UK Economy Hit Hard as Growth Slumps to 0.4%
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UK Economy Hit Hard as Growth Slumps to 0.4%
Growth outlook halved from earlier 0.9 per cent forecast.Energy price surge expected to push costs higher from July.Further escalation could risk recession, analysts warn. The UK economy could grow at just 0.4 per cent this year, according to revised forecasts, as the impact of rising energy prices linked to the Iran conflict begins to filter through.Oxford Economics has cut its growth outlook sharply from an earlier estimate of 0.9 per cent, po…
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