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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, 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 ...
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]
The UK produces one of the quickest estimates of GDP of the major economies, about 40 days after the quarter in question. At that stage, only about 60% of the data is available, so the figure is ...
Bank of England Gov. Andrew Bailey said Tuesday that the U.K.’s economic recession that was confirmed last week is modest by historical standards and is probably over. In testimony to lawmakers ...
It said the rate of unemployment, which rose to 3.7% for the three months to October, could reach 5.6% by mid-2023, representing an increase of around 680,000 people.
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The UK economy is in a “horrible fiscal bind” as it heads for recession with no room to cut taxes or increase public spending to offer a boost, an influential group of economists has said ...