The UK economy is at risk of entering a recession next year amid pressure from higher interest rates and increased unemployment, a think tank has warned.
The National Institute of Economic and Social Research (Niesr) said in its main forecast that the economy will avoid a recession – defined by two or more quarters of falling gross domestic product (GDP) in a row – this year but there is still a “60 per cent risk” of a recession at the end of 2024.
