While much of the world anxiously waits to see if their economies will tip into a recession next year, the United Kingdom may already be in the midst of one.
The economy shrank 0.3 per cent between July and September, in what Bank of England forecasts say is the start of a "prolonged period" of negative growth that will last throughout 2023.
Part of the problem is inflation — which is at 10.7 per cent — and proving persistent, feeding through into higher prices for food and housing and demands for higher wages.
