Blue Bahari
JF-Expert Member
- Aug 21, 2016
- 2,278
- 3,035
In the summer, the UK economy is facing a recession amid a decrease in purchasing power due to inflation and increased electricity costs.
British economists have warned that the rise in the cost of living after the start of a special operation in Ukraine and the imposition of anti-Russian sanctions could lead to a fall in gross domestic product for two consecutive quarters, reports The Guardian.
Neil Shearing, chief economist at consulting firm Capital Economics, said household income will fall by about 1.9% this year, the biggest drop since the 1950s.
“For comparison: in 2011, after the global financial crisis, real incomes fell by only 1.5%,” he said.
British economists have warned that the rise in the cost of living after the start of a special operation in Ukraine and the imposition of anti-Russian sanctions could lead to a fall in gross domestic product for two consecutive quarters, reports The Guardian.
Neil Shearing, chief economist at consulting firm Capital Economics, said household income will fall by about 1.9% this year, the biggest drop since the 1950s.
“For comparison: in 2011, after the global financial crisis, real incomes fell by only 1.5%,” he said.