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The Independent UK
The Independent UK
Business
Adam Forrest

UK economy shrinks amid fears of longest recession since records began

Recession United Kingdom Economy Bank of England Jeremy Hunt Britain Kwasi Kwarteng Liz Truss
The Independent

The UK economy shrank in the latest quarter, official figures show – marking the first step in a long recession expected in the year ahead.

A country will not officially be in recession until the economy contracts for two quarters in a row, but the Bank of England forecasts Britain to be in one by the end of the year.

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