The British economy is in recession

London. Britain’s economy has gone into recession. Last year, in the second half of the year, the economy shrank by 0.1 percent. This rate of contraction is much worse than expected. In the last quarter, the economy shrank by 0.1 percent.
Economists participating in the public opinion poll of the international news organization Reuters said that the economy will shrink by only 0.1 percent during the period of October and December. The British central bank “Bank of England” (BoE) hopes that the economy will accelerate this year.
It is expected that a general election will be held in the UK in the second half of this year. At the moment, Sunak is trying to figure out how to win the hearts of the voters. But this year’s slow economic growth rate has shocked Prime Minister Rishi Sunak. According to the Office of Statistics (ONS), the economic growth rate has decreased by 0.1 percent in December compared to November. The pound sterling weakened against the dollar and the euro immediately after the GDP data was released.