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Despite defying economists’ expectations, there appears to be a recession looming over the UK. In this video, we take a look into the factors that have prevented an economic downturn so far and how, with the stubborn inflation rate and higher-than-expected interest rate hikes, the future remains uncertain.
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00:00 – Introduction
00:59 – Why the UK Has Avoided a Recession So Far
03:36 – Can This Last?
08:07 – Sponsored Content…(read more)
BREAKING: Recession News
LEARN MORE ABOUT: Bank Failures
REVEALED: Best Investment During Inflation
HOW TO INVEST IN GOLD: Gold IRA Investing
Can the UK Avoid a Recession?
The United Kingdom, like many other countries around the world, has been hit hard by the economic consequences of the COVID-19 pandemic. With lockdown measures, a decline in consumer spending, and a struggling job market, the possibility of a recession looms heavily over the nation. However, the question remains: can the UK avoid a recession?
To answer this question, it is important to understand the current state of the UK economy. The Office for National Statistics reported that the UK’s GDP contracted by 20.4% in the second quarter of 2020, the largest decline ever recorded. The decline can be attributed to the lockdown measures imposed to curb the spread of the virus, which resulted in a significant drop in economic activity.
One factor that might help the UK avoid a recession is the government’s response to the crisis. The UK government has implemented various measures to support businesses and individuals during this challenging time. The Coronavirus Job Retention Scheme, for example, has provided wage subsidies to companies, keeping employees on payroll even when businesses were forced to shut down temporarily. Initiatives like this have helped prevent a more significant increase in unemployment rates.
Furthermore, the Bank of England has implemented monetary policies to ensure stability in the financial markets. Interest rates have been reduced to historically low levels, providing companies and individuals with easier access to credit, thus stimulating economic activity. The central bank has also introduced quantitative easing measures, injecting additional liquidity into the economy to support businesses in need.
Another potential factor that could play a role in avoiding a recession is the resilience of the UK’s key industries. The UK has a diverse economy, with sectors such as finance, technology, and creative industries making significant contributions. These sectors may be better positioned to weather the storm compared to countries heavily reliant on industries highly impacted by the pandemic, such as tourism or manufacturing.
However, the UK still faces significant challenges in avoiding a recession. The uncertain future of Brexit and its potential impact on trade could inhibit economic recovery. Increased costs and disruptions to supply chains could harm businesses, making it harder for them to bounce back from the current crisis.
Consumer spending is another concern. With high levels of unemployment and economic uncertainty, individuals may be hesitant to spend, leading to a decline in demand that could exacerbate the current economic downturn.
While the measures taken by the UK government and the central bank are important steps in mitigating the effects of the crisis, they may not be sufficient to avoid a recession entirely. The recovery process is likely to be slow and gradual, depending on many external factors, such as the development of an effective vaccine and global economic trends.
In conclusion, while the future remains uncertain, the UK has taken significant actions to prevent a severe recession. The government’s support for businesses and individuals, along with the Bank of England’s monetary policies, provide hope for economic recovery. However, challenges such as Brexit and dampened consumer spending may hinder the UK’s ability to avoid a recession entirely. Only time will tell how successfully the nation can navigate through these difficult times.
Anticipating recession is way more worse than the actual recession.
I will be forever grateful to you, you changed my whole life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you ROCH DUNGCA-SCHREIBER .
The uk seems to still be growing it’s the eu in recession. Looks to me like brexit is hurting the eu a lot more.
Since inflation is being driven but energy and food costs the way to deal with it is to increase the amount of renewable energy available by relaxing the building requirements and the government in some cases straight up paying people to put them in. Also upgrading houses with electric boilers so gas demand decreases. Finally on the food side turn green spaces into emergency farmland that specifically grows the grains that are in short supply due to the war in Ukraine.
ITS ALREADY IN RECESSION WTF ARE YOU ON
Joel 2:1-19
[1]Blow a trumpet in Zion, And sound an alarm on My holy mountain! Let all the inhabitants of the land tremble, For the day of the Lord is coming; Surely it is near,
[2]A day of darkness and gloom, A day of clouds and thick darkness. As the dawn is spread over the mountains, So there is a great and mighty people; There has never been anything like it, Nor will there be again after it To the years of many generations.
[3]A fire consumes before them And behind them a flame burns. The land is like the garden of Eden before them But a desolate wilderness behind them, And nothing at all escapes them.
[4]Their appearance is like the appearance of horses; And like war horses, so they run.
[5]With a noise as of chariots They leap on the tops of the mountains, Like the crackling of a flame of fire consuming the stubble, Like a mighty people arranged for battle.
[6]Before them the people are in anguish; All faces turn pale.
[7]They run like mighty men, They climb the wall like soldiers; And they each march in line, Nor do they deviate from their paths.
[8]They do not crowd each other, They march everyone in his path; When they burst through the defenses, They do not break ranks.
[9]They rush on the city, They run on the wall; They climb into the houses, They enter through the windows like a thief.
[10]Before them the earth quakes, The heavens tremble, The sun and the moon grow dark And the stars lose their brightness.
[11]The Lord utters His voice before His army; Surely His camp is very great, For strong is he who carries out His word. The day of the Lord is indeed great and very awesome, And who can endure it?
[12]"Yet even now," declares the Lord, "Return to Me with all your heart, And with fasting, weeping and mourning;
[13]And rend your heart and not your garments." Now return to the Lord your God, For He is gracious and compassionate, Slow to anger, abounding in lovingkindness And relenting of evil.
[14]Who knows whether He will not turn and relent And leave a blessing behind Him, Even a grain offering and a drink offering For the Lord your God?
[15]Blow a trumpet in Zion, Consecrate a fast, proclaim a solemn assembly,
[16]Gather the people, sanctify the congregation, Assemble the elders, Gather the children and the nursing infants. Let the bridegroom come out of his room And the bride out of her bridal chamber.
[17]Let the priests, the Lord's ministers, Weep between the porch and the altar, And let them say, "Spare Your people, O Lord, And do not make Your inheritance a reproach, A byword among the nations. Why should they among the peoples say, 'Where is their God?'" Deliverance Promised
[18]Then the Lord will be zealous for His land And will have pity on His people.
[19]The Lord will answer and say to His people, "Behold, I am going to send you grain, new wine and oil, And you will be satisfied in full with them; And I will never again make you a reproach among the nations.
This has been asked some 4 or 5 times now over the last year or so, and we haven't hit one. So cut the clickbait cynicism crap. We're fine, get over it.
Can the EU avoid a recession, is what you should be addressing.
Don't completely rule out the UK entering recession.
Growth forecasts of the UK recording growth have to be taken with a huge pinch of salt because so often they have proven to be totally inaccurate. It's far from a guarantee.
Uk were very lucky to avoid a recession very recently by 0.1%. But peiple werw celebrating something akin to scraping a 0-0 draw at home to a team struggking near or at the bottom of the table as though it was a wonderful result when it reallty wasn't and it's not much better than losing 0-1 at home.
NB:- 0-1 representing 0.1% contraction for 2 succeasive quarters
Cripes, three of the top four comments on the video are currently scams.
Too late. Data can only reveal a recession in retrospect – nothing was avoided; numbers aren't accurate to now.
If it wants to stop the inflation, no.
depends if the banks make it happen or not.
If you stop the economy on purpose and pretend it was for some other reason, then print trillions of pounds whilst people are sitting twidling their thumbs, give it out for them to spend in a few places that are "allowed" to operate or paying the banks for lending them the very money they're using to create debt which is then used to take more whilst you get less to "make up the deficit" which is self inflicted, directed, planned and accomplished.
So basically it depends if you're willing to give up all the stuff these people want otherwise they will make the thing happen that will allow them to take all the things they want anyway.
There is another answer, tell them to fuck off.
It could, but since it’s policy to induce one to try to curb inflation, it won’t be stopped but welcomed.
UK CONSTANTLY KEEPS WINNING the contest for the Best country to LIVE/LEAVE in 2023 , 5th year straight , UK is PURE DISASTER GLOBALLY there is currently no other country that is more mismanaged than UK
MORE MONEY TO AMERICAN PROXY'S WAR
It's not a recession – it's a permanent impoverishing. The UK has few options at this point, given that attempts to find an alternative source of cheap energy have failed. The best thing would be if the European governments stopped stoking the war, ate humble pie and accepted that their prosperity was inextricably tied to cheap Russian fuel and cheap Chinese products. Our political class are never going to do this, of course, because they are over-invested in helping the US prop up it's ebbing hegemony. Thus, the ordinary people get their throats cut whilst the corrupt and craven political class pursue a dying dream.
Aren’t they already in recession?
It's kind of a prolonged sagging of the economy that avoids being a technical recession.
Britain can escape recession if it joins with Madagascar, South Africa, Mozambique etc to bring ice cubes from Antartica to the south africa. Then the cheap labour of southern Africa can improve the economy of Africa and Britain
The increase in mortgages for some were misled into believing rates would stay low indefinitely they had already factored that in , For other means credit cards loans possibly now we have energy food ULEZ in cities you can get caught out when changes occur and if you become maxed out how will get back on track .
Politicians all pricks who don't care that the population is high and the damage it is doing
not correct … electricity prices was given rise because Moscovia withdraw all natural gas deliveries even those under long term contracts (future court cases) … Natural gas is evaluates in energy value kW (how much burning ut can be produced) so prices go up it as well for electricity because major supplier was left (30% on that period of time, currently replaced by other player ) market and governments agreed to buy what ever price was sorted out right now return to normal pre crisis level … if do not know fact do not report them by the way Gazprov even supply GB …
Rely on global supply… Proceeded to Brexit. Yeah well done Brits well done
IT,S NOT A RECESSION. it the Great leap backwards. less disposable income since the 1950s food shops profiteering. The should be a a fixed price for the basic foods ie milk bread across the country. reduce VAT to 10%. (to get over seas investment renationalise gas electric and water company's the profits going back into the public funds
"Inflation is still incredibly high."
Above 7.5%. Meanwhile in my country above 20%, Hungary…
Amazing explained!
We need to stop throwing money at ukraine
Cut foreign aid
Stop paying hotels to put up economic migrants and begin repatriation. Using the money we will save to begin to pay national debt. The lending to pay furlow combined with shutting the economy has caused the exasperation of this and drastic measures will be needed to pull it back. We cant allow the continued explotation of the British working class to sholder the piracy of this. From gas and electric dealers keeping the prices high even thought value has dropped to banks profitering from intrest only payments and fees for re negotiating morgages.
as i business i reduced by services due to higher energy prices
30m a day for hotels wtf
Pure luck? You mean global warming.
it all comes down to distribution of wealth, its now at a criminal level and its US who are screwed
UK has the worst Economic Collapse in forty years, tldr: "Here's why you shouldnt complain"
Chinas Economy grows by 4.5% instead of predicted 5%, tldr: "China's economy is in Freefall, is this the end of China??"
NO! Because UK is in RECESSION, if you believe BoE that UK GDP growth is 0.1% I have a bridge to sell you