All the updated news related to recession

All the news related to recession updated in real time

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Service sector breaks from 18 months of growth, survey suggests

The UK’s service sector has interrupted 18 months of consecutive growth to stagnate for the first time since lockdowns as customers across the country tightened their belts. Under-pressure household budgets could not stretch as far and as often to ...

05 Oct 2022 at 11:48

Cost-of-living hikes good news for price comparison sites, Trivago boss says

The soaring cost of living signals good news for hotel comparison sites which will benefit from cash-conscious consumers hunting down cheaper deals, the boss of Trivago has said. While many businesses could suffer as high inflation strips the ...

15 Aug 2022 at 01:01

UK economy to grow slower than previously predicted in 2022, says OECD

The UK economy will grow less than previously predicted this year and flatline entirely in 2023, according to a new report. The OECD (Organisation for Economic Co-operation and Development) said it has downgraded its current annual ...

26 Sept 2022 at 14:30

Lib Dems demand scrapping of MPs’ recess to allow scrutiny of mini-budget

The Liberal Democrats are demanding the Government cancel the upcoming parliamentary recess to allow proper scrutiny of the Chancellor’s mini-budget. MPs had been due to break for the conference season on Thursday, but are now ...

22 Sept 2022 at 23:30

Why has the Bank of England raised interest rates, and what does it mean?

The Bank of England said that it would hike interest rates by 0.5 percentage points to 2.25% on Thursday. It means that rates are now at their highest level since 2008 and could rise even further as the central bank looks to ...

22 Sept 2022 at 17:04

Average UK house price falls month on month for first time since June 2021

The average UK house price slipped back in July from a record high the previous month, marking the first month-on-month dip since June last year, according to an index. Following a year of exceptionally strong growth, house ...

05 Aug 2022 at 10:14

Why has the Bank raised interest rates, and what does it mean?

The Bank of England said that it would hike interest rates by 0.5 percentage points to 1.75% on Thursday. It is the largest single hike for 27 years, and the highest that interest rates have reached since January 2009. But ...

04 Aug 2022 at 18:18

Boris Johnson and Chancellor Nadhim Zahawi on holiday despite financial gloom

Boris Johnson and Chancellor Nadhim Zahawi are on holiday despite warnings of inflation further soaring and of the economy entering the longest recession since the financial crisis. With ministers taking a back seat as ...

04 Aug 2022 at 19:39

Bank of England predicts 13% inflation and recession as interest rates rise

The UK is set to fall into it longest recession since the financial crisis and inflation will peak at more than 13% as gas prices soar, the Bank of England has warned. Decision makers hiked the Bank’s base interest ...

04 Aug 2022 at 14:09

Andrew Bailey denies Bank was too slow to act over soaring inflation

The governor of the Bank of England Andrew Bailey has hit back against claims he was too slow to act against soaring inflation after the central bank painted a dire outlook for the country’s economy. Mr Bailey ...

05 Aug 2022 at 14:21

UK to be hit by drawn-out recession and 13% inflation, Bank warns

Britons face two years of tumbling household incomes with inflation set to soar to more than 13% and the economy plunging into the longest recession since the financial crisis, the Bank of England has warned. ...

04 Aug 2022 at 17:43

Another hefty rate rise may be on the cards in September, economists warn

The Bank of England may be forced to increase rates by another half point as soon as next month as it puts the need to rein in inflation over risks of deepening the looming recession, economists have warned. ...

04 Aug 2022 at 16:34

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