Recession In Uk 2024. Output fell 0.3 per cent month on month in october, suggesting the uk is at risk of a technical recession if there is a contraction across the fourth quarter as a whole. Uk at risk of recession without growth in december;

The combination of high inflation, falling real wages and a sharp rise in mortgage rates could belatedly push the uk economy into recession by the election. The national institute of economic and social research (niesr) assigns a 60% probability to a recession in the uk by the end of 2024, while the institute for fiscal.