More gloom ahead for UK economy – study ...News

Russia Today - Economy
More gloom ahead for UK economy – study
source : Russia Today ( News ) () 30
Persistent inflation is among the factors expected to damage growth prospects, according to a US think tank The British economy will shrink in both 2023 and 2024, The Guardian reported on Wednesday, citing a study by the Washington-based Peterson Institute for International Economics (PIIE). According to the report, persistent inflation, falling real incomes of low-income households, and a shortage of workers will result in a 0.3% drop in the country’s gross domestic product (GPD) this year, and a further 0.2% backslide next year. “The UK won’t be in recession all of next year, but the recovery will be held back b

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