UK at 'significant risk' of heading into recession, report warns

Danielle Desouza

THE UK is at "significant risk" of heading into a recession due to the mounting cost-of-living crisis and the Ukraine conflict, a new report has warned.

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Sunak has said the nation must prepare for “the economy and public finances to worsen, potentially significantly” because of the impacts of Russia’s invasion of Ukraine.

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A MARKED improvement in the north’s economy last month could be short-lived in the wake of Russia’s invasion of Ukraine, a new report from Ulster Bank suggests.

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THE supply of people and skills is the singular key challenge for Northern Ireland in the 2020s, according to the Ulster University Economic Policy Centre’s newly-published spring outlook.

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HOUSEHOLDS face the biggest annual fall in their standard of living for at least 32 years, the Bank of England has said.

Omicron drags UK economy to slowest growth in 11 months

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Growth in the UK economy slowed to its lowest in 11 months as the spread of Omicron variant weighed on consumer activity, according to early economic data.

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UK economic growth slowed more sharply than first thought between July and September, before the impact of the new Omicron variant of coronavirus, official figures show.

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THE UK economy will grow at a slower pace than expected next year, with trade set to lag "significantly", a business group is predicting.

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UK economic growth slowed sharply between July and September as supply chain problems hampered recovery from the pandemic, official figures have shown.

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