‘Good chance’ UK may have fallen into technical recession; top hedge funds post record profits – business live ...Middle East

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Introduction: “Good chance” UK fell into technical recession Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. Britain may well have slipped into recession at the end of last year, forecasters at the EY ITEM Club believe. Martin Beck, chief economic advisor to the EY ITEM Club said this morning “there’s a good chance” the economy may have shrunk slightly in the final three months of 2023. That would mean two negative quarters in a row – after the 0.1% fall in GDP in July-September – meaning a technical recession. EY ITEM Club have slashed their forecasts for growth in 2023 to just 0.3%, down from 0.6%. Beck told Radio 4’s Today

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