Are We In A Recession 2024 Uk. The combination of high inflation, falling real wages and a sharp rise in mortgage rates could belatedly push the uk economy into recession by the election year. The uk is in recession if it fails to grow for two successive quarters.
The uk economy is expected to grow every year until the end of 2026 but will continue to lack momentum. The latest official figures suggest the uk’s economy stalled and then slipped into reverse over the summer, raising the risk that it edged into recession at the end of.