BREAKING NEWS
UK Economy Fails to Grow for Second Month in a Row, Stimulus Fears Mount
[Image: A graphic depicting the UK economy in stagnation]
London, United Kingdom – In a stark reminder of the economic headwinds facing the nation, the UK’s Office for National Statistics (ONS) has announced that the country’s economy failed to grow for the second consecutive month in September, sparking concerns of a recession.
According to the latest figures, the UK’s gross domestic product (GDP) remained unchanged from the previous quarter, standing at 1.2% year-on-year growth. This represents a significant slowdown from the 1.4% growth rate recorded in August, and marks the second month in a row where growth has been absent.
Experts attribute the stagnation to a combination of factors, including the ongoing impact of the COVID-19 pandemic, global supply chain disruptions, and the effects of the UK’s withdrawal from the European Union.
"With growth stagnant for two consecutive months, the risk of recession is now more acute than ever," said economists at Capital Economics. "A combination of supply-side issues, including the current lorry driver shortage and rising energy costs, means that businesses are facing intense pressure to maintain output, while consumers are tightening their belts in response to soaring prices."
The lack of growth has sparked fresh fears that the UK government will need to introduce additional economic stimulus measures to prop up the economy. In the absence of such intervention, experts warn that the situation could worsen, with far-reaching consequences for employment, consumer spending, and economic stability.
[Tag List]
- UK Economy News
- Economic News UK
- GDP UK
- UK Growth Rate
- UK Recession Fears
- Global Economy News
- World Economic News
- International Economy News
- Supply Chain Disruptions
- UK Pandemic Response
- Brexit Impact on UK Economy
- Economic Stimulus Measures
- Economic Forecast UK
- World GDP Growth Rate
In the meantime, businesses are urging the government to act quickly to address the country’s economic woes.
"A stagnating economy has significant consequences for businesses and their employees," said UK Institute of Directors (IoD) Director General, Damon Buffini. "It’s essential that policymakers introduce measures to boost business confidence and drive growth, before the situation spirals further out of control."
With the UK’s economy once again in the spotlight, it remains to be seen how the government will respond to the latest set of challenges. One thing is clear, however – only bold and decisive action will be enough to avert the looming threat of recession and restore economic growth.
[End of Breaking News]
UK economy fails to grow for second month in a row
View info-news.info by Adj-Noun-Numbers
It failed to grow in July but not sure why
Wouldn’t be surprised if it blamed bad weather for poor retail sales or something.
It’s anti growth wizard. He gains power in the east.
Services sector is propping everything up, but that can only do so much for so long.
Manufacturing, especially small scale, high tech exports are, and have been for months, in real trouble.
I wonder what’s changed in the last couple of months?
Migration up, economy down, you can see why the Tories called election when they did. Their wipe out would have been complete if they had try to hang on.
Have we tried cutting interest rates and killing the poor?