Recession is coming to attack Britain..!?

Sowmiya Sriram
Recession is coming to attack Britain..!?

Britain was once the country that controlled most of the world. But after BREXIT i.e. from the day of separation from the european union, trade, economy, and employment were all affected. While recovering from this, when britain was floundering due to the impact of Corona, Rishi Sunak won and became the country's president, a major setback in british politics.
From there, the entire european economy was caught by the Russia-Ukraine war. In this situation, the fear of recession has not only increased in britain but it is considered to be the country in the worst economic condition in the entire european region. Amidst this, crude oil prices are chasing the rise. Britain's private sector is currently laying off workers over its workforce following the coronavirus pandemic and financial crisis. The people of britain are shocked by this.
The bank of england is planning to hold off on raising its benchmark interest rate for the first time in nearly two years. S&P Global's composite Purchasing Managers' Index fell to 46.8 from 48.6 in september, the worst level since the measure was recorded in january 2021 when output fell sharply while the UK was in lockdown. The Netherlands, which fell into recession.. the next wicket in Europe..! A worse-than-expected PMI index for september came in half. The fact that the bank of england, the central bank of britain, has to keep the country's benchmark interest rates at 5.25% is proof that the country's economy is in bad shape. At the same time, british economists have said that because the interest rate for loans in the country is very high, this should be controlled. After the Ukraine-Russia war, Britain's economy has reached its lowest point.
For more interesting updates click and follow Indiaherald WhatsApp channel

Find Out More:

Related Articles: