2024 Recession Uk

2024 Recession Uk. The combination of high inflation, falling real wages and a sharp rise in mortgage rates could belatedly push the uk economy into recession by the election year of 2024. The office for national statistics (ons) said the economy grew 0.1% across 2023 compared with 2022.

The uk economy is expected to grow every year until the end of 2026 but will continue to lack momentum. The combination of high inflation, falling real wages and a sharp rise in mortgage rates could belatedly push the uk economy into recession by the election year of 2024.