UK GDP fell by 0.1% in July-September, worse than first estimated, raising fears of a recession
The 0.1% fall in real GDP in Q3 may mean that the mildest of mild recessions started in Q3, says Ashley Webb, UK economist at Capital Economics.
Webb adds:
But whether or not there is a small recession, the big picture is that we expect real GDP growth to remain subdued throughout 2024.
“Rishi Sunak is a Prime Minister whose legacy is one of failure. He failed to beat Liz Truss, he failed to cut waiting lists, he failed to stop the boats and now he has failed to grow the economy.
“Thirteen years of economic failure under the Conservatives have left working people worse off with higher bills, higher mortgages and higher prices in the shops.
Continue reading...
