The Latest Breaking News from Recession

At roughly $3 trillion, the UK economy is large and contains multitudes. Not as massive as it might have been as a result of Brexit, Covid-19 and Russia’s invasion of Ukraine, but enough to rank sixth in the world.

As the U.S. celebrates its birthday with hot dogs and fireworks, the economy continues to grow, the job market is strong, but inflation and rising interest rates are keeping recession fears alive.

After a record-breaking run that saw mortgage rates plunge to all-time lows and home prices soar to new highs, the U.S. housing market finally started slowing in late 2022. Mortgage companies engaged in mass layoffs, real estate economists lamented a “housing recession” and home prices seemed poised for a correction.

So far the immaculate disinflation — what had seemed a remote scenario in which inflation comes down without a recession — has materialized.

The housing market is full of surprises. Sentiment among homebuilders has been perking up, their stocks are surging, and new home sales are at the strongest since early 2022. All in the face of persistently high mortgage rates.

Asian shares are mostly higher after a rally on Wall Street driven by reports that showed inflation abating, assuaging fears over the threat of a recession

THE Tories are taking the UK to the “brink of recession”, with fears an economic downturn is the Westminster government’s “only plan” to…

Of the 27 leading economists assembled by The Conversation to forecast the financial year that’s just begun, every one expects inflation to continue to fall.

The SNP Westminster leader hit out at the UK Government’s handling of the economy.