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This is a list of recessions (and depressions) that have affected the economy of the United Kingdom and its predecessor states. In the United Kingdom a recession is generally defined as two successive quarters of negative economic growth, as measured by the seasonally adjusted quarter-on-quarter figures for real GDP. Name Dates Duration Real GDP reduction Causes Other data Great Slump c. 1430 ...
However, increases in the inflation rate towards the end of the 1980s led to increased interest rates [27] and another recession which began in 1990. Unemployment began to increase and by the end of 1992 the official level had again risen to almost 3 million with the official rate around 10.6%, although inflation was brought under control ...
However, the statistical evidence counters any perception of economic stagnation in the latter 19th century: the employed labour force grew, unemployment in the years 1874–1890 only averaged 4.9%, and productivity continued to rise after the 1870s recession, albeit at a lower annual rate of 1%, compared to 2% in the years preceding the Panic ...
It marks the first time the UK has entered recession since the first half of 2020, when the initial Covid-19 lockdown sent the economy plunging into reverse. ... He said: “While interest rates ...
The Bank’s Monetary Policy Committee (MPC) decided to raise rates to 2.25% – their highest since December 2008 – from 1.75%, in an effort to grapple big increases in the cost of living.
The United Kingdom has slipped into recession just months ahead of a general election, official figures showed Thursday, derailing Prime Minister Rishi Sunak’s pledge to generate economic growth.
The Depression of 1920–1921 was a sharp deflationary recession in the United States, United Kingdom and other countries, beginning 14 months after the end of World War I. It lasted from January 1920 to July 1921. [1] The extent of the deflation was not only large, but large relative to the accompanying decline in real product. [2]
Annual UK inflation came in at 3.2% last month, a sharp slowdown from a rate above 10% about a year ago. The central bank targets a rate of 2% and expects to more or less reach it in the next few ...