An economy enters a technical recession when its GDP falls for two or more consecutive quarters.
Hywel Ball, EY’s UK chair, said: “There’s no doubt the UK economy faces a difficult period ahead, with global headwinds adding to domestic pressures. “Businesses will need to think very carefully about their resilience and plan for different scenarios, while also being mindful of the support they provide to their customers and employees.”The energy support package is also expected to tame inflation which could peak at just below 11% in October, lower than the 15% that it could have hit without an intervention.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
A bluffer’s guide to the UK economy: Impress your friends with your financial knowledgeWorried you don’t know your quantitative easing from your fiscal event? 💷 theipaper gives you the key financial terms so you can sound big in the bull market
Source: i newspaper - 🏆 8. / 89 Read more »
Jeremy Hunt to deliver key mini-budget statement todayThe new chancellor, Jeremy Hunt, will deliver a key financial statement today, as part of renewed effort to ease the financial turmoil Britain is facing.
Source: MetroUK - 🏆 13. / 82 Read more »
Martin Lewis issues warning urging couples living together to take actionThe warning came in Martin Lewis’ latest Money Saving Expert newsletter
Source: Glasgow_Times - 🏆 76. / 59 Read more »
Top Covid symptoms to look for now as sore throat no longer most common signExperts have warned that Covid rates are rising, particularly among the elderly population Could it be that the over 70s have just had their fifth jab? Only the jabbed getting it and keeping it going They've all been jabbed. What else can they all possibly do? Can we just go back to having colds and feeling a bit rough? It's allowed And funny how positive tests rise after every jab rollout 🤣 Is it time to admit the jabs are about as much use as a real foot on a wooden leg?
Source: MENnewsdesk - 🏆 23. / 69 Read more »
What will happen to the UK stock market this week?Goldman Sachs has expressed concern over the future of the UK economy as markets deal with the fallout from the Prime Minister's U-turns on the mini-Budget
Source: i newspaper - 🏆 8. / 89 Read more »
Experts issue urgent scam warning to anyone with an Amazon accountConsumer rights experts have issued an urgent warning to anyone with an Amazon account, as customers have reported being sent scam text messages to log into their account.
Source: Glasgow_Live - 🏆 4. / 97 Read more »