Posted 2/12/2024, 12:55:13 PM
UK Braces for Recession Confirmation but Hopeful of Swift Rebound
- Figures expected to show inflation rose to 4.2% in January, up from 4% in December
- GDP looks to have shrunk by 0.1% in fourth quarter after 0.1% contraction in third quarter
- Would confirm a recession at the end of last year, delivering a blow to hopes of reviving growth
- However, experts think the setbacks will prove temporary and output bounced back at the start of this year
- Any recession expected to be small and may already be nearing an end, with recovery expected in coming quarters
