Over half of the public believe the UK is already in recession, a poll has found. Despite figures indicating modest economic growth so far this year, 61% of individuals surveyed by Ipsos believe the UK economy is in a downturn.
The poll was conducted before today's decision by the Bank of England to hike interest rates to 5 per cent. It reveals a pervasive sense of economic pessimism, reflecting concerns over rising interest rates and persistent high inflation, with two-thirds of respondents anticipating increases in both areas within the next six months.
The figures present a minor uplift from a similar May poll when 81% expected food costs to rise, yet the sentiment regarding the economy's health remains largely negative.
