The country’s GDP data for Q3 is due later this week, but analysts suggest all signs point to a contraction The UK is likely already in a recession due to soaring interest rates and rising unemployment, Bloomberg reported on Monday. According to analysis by Bloomberg Economics, the country’s GDP likely shrank by 0.1% in the third quarter, and there is a 52% chance of another contraction in the last three months of the year. This would place the UK in a technical recession, which is defined by two consecutive quarters of decline. “It will be a close call between stagnation and a mild contraction, but the odds are t
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