Recession

2024 - 2 - 16

UK and Japan Slip into Recession: Economic Impact and Political Ramifications

Global recession - Japanese economy - Rishi Sunak - UK economy

The UK and Japan face economic turmoil as they slip into recession, impacting global markets and political strategies. Learn more about the implications of this downturn.

The recent economic news has placed the UK and Japan under the spotlight as both countries struggle with the effects of recession. In the UK, the economy fell into recession for the first time since the pandemic hit, with GDP declining for two consecutive quarters. This has put pressure on Prime Minister Rishi Sunak, who is facing political backlash due to the economic downturn. The situation is further exacerbated by the lack of growth initiatives in the British economy, leaving policymakers scrambling to find solutions.

On the other side of the globe, Japan has also slipped into recession, losing its position as the world's third-largest economy. The contraction in the Japanese GDP reflects a combination of population decline and lagging productivity, signaling a challenging road ahead for the nation. Despite these setbacks, the stock markets in both countries have not been severely impacted, showcasing resilience amidst economic uncertainty.

The UK recession was primarily driven by reduced consumer spending, highlighting the significant role of public sentiment in economic growth. While the economy contracted by more than anticipated, there are glimpses of optimism for the future. Finance Minister Hunt remains hopeful amidst signs of potential recovery, but the road to economic stability remains uncertain.

In light of these economic challenges, it is crucial for policymakers and leaders to implement strategic measures to revitalize the economies of both the UK and Japan. The global implications of these recessions emphasize the interconnectedness of the financial world and the need for coordinated efforts to navigate turbulent economic waters.

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Image courtesy of "Resolution Foundation"

Recession watch • Resolution Foundation (Resolution Foundation)

And we've got a recession special from myself and James Smith (who runs our macroeconomic work), unpacking today's gloomy GDP stats with everything you need to ...

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Image courtesy of "Financial Times"

UK's 'technical' recession is politically toxic for Rishi Sunak (Financial Times)

Prime minister grapples with the 'R' word after GDP declines for the second straight quarter.

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Image courtesy of "Barron's"

Stock Market News From Feb. 15, 2024: Dow, S&P 500 Close ... (Barron's)

Two major economies fell into recession at the end of last year, but that's not hurting their stock markets much. Gross domestic product in Japan and the ...

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Image courtesy of "Jakarta Globe"

UK Falls into Recession for 1st Time Since Pandemic (Jakarta Globe)

It is the first time the UK economy has fallen into recession since the first half of 2020, when output dived during the Covid-19 lockdown.

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Image courtesy of "BBC News"

UK economy fell into recession after people cut spending (BBC News)

People spending less helped drive the UK economy to shrink by more than expected at the end of last year.

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Image courtesy of "The Guardian"

The Guardian view on the UK recession: no growth and no ideas ... (The Guardian)

Editorial: The Conservatives have presided over a shrunken British economy, and Rishi Sunak does not have a clue how to make it grow again.

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Image courtesy of "Reuters"

UK economy falls into recession, adding to Sunak's election challenge (Reuters)

UK GDP contracts 0.3% in Q4 2023, sealing recession · Economic output stands only 1% higher than pre-COVID level · Finance minister Hunt sees signs of brighter ...

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Image courtesy of "The Hindu"

Japan slips into recession; loses its spot as the world's third-largest ... (The Hindu)

Japan's economy falls to fourth place after contracting in Q4 2023, reflecting population decline and lagging productivity.

Recession in Japan makes Germany third largest economy ... (Hellenic Shipping News Worldwide)

Japan's nominal gross domestic product (GDP) for 2023 stood at $4.2 trillion in dollar terms, government data showed, compared to Germany's $4.5 trillion, ...

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Image courtesy of "Axios"

Recession reality hits major economies (Axios)

Animated illustration of a downward trending market trend line that plateaus and then stops, at. Illustration: Aïda Amer/Axios. Japan and the U.K. each saw ...

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Image courtesy of "Financial Times"

UK economy slipped into recession in 2023 (Financial Times)

GDP fell 0.3% in final quarter of last year, dealing blow to Rishi Sunak's election campaign.

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Image courtesy of "The Business Times"

UK retail sales jump, signalling quick end to recession (The Business Times)

BRITISH retail sales jumped by the most in almost three years in January as consumers recovered their appetite for spending, suggesting the economy could ...

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Image courtesy of "Business Insider UK"

Recession outlook: Japan and UK economies contract as US booms (Business Insider UK)

Japan posted a surprise contraction in GDP, dragged down by its weak currency and aging population. Meanwhile, UK growth shrank for the second straight quarter ...

Economic Watch: Why Japan slips into recession and loses crown ... (新华网)

TOKYO, Feb. 16 (Xinhua) -- Japan's economy shrank for the second quarter in a row in the October-December period, a sign of economic recession, ...

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Image courtesy of "CNBC"

British retail rebound provides some hope for recession-hit economy (CNBC)

The “strong pick up in sales suggests the worst is now behind the retail sector and falling inflation and rising wages in 2024 will provide a strong platform ...

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Image courtesy of "Wealth Briefing"

Wealth Managers React As UK Falls Into Recession (Wealth Briefing)

After the UK ended 2023 in a recession, wealth managers discuss the impact, the potential for the Bank of England (BoE) to cut interest rates, and possible ...

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Image courtesy of "Reuters"

What can we expect from the UK economy in 2024 after recession? (Reuters)

British Prime Minister Rishi Sunak suffered a pre-election setback on Thursday when data showed the economy fell into a recession in the second half of 2023 ...

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Image courtesy of "Livemint"

Indian economy a 'bright spot' while Japan, UK fall into technical ... (Livemint)

The UK slipped into recession with its worst GDP performance in 2023, just months ahead of its general election. Meanwhile, Japan lost its spot as the ...

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Image courtesy of "CNN"

Japan slips into recession allowing Germany to overtake as world's ... (CNN)

Japan's economy has contracted unexpectedly because of weak domestic consumption, pushing the country into recession and causing it to lose its position as ...

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Image courtesy of "Reuters"

Japan unexpectedly slips into recession, Germany now world's third ... (Reuters)

TOKYO, Feb 15 (Reuters) - Japan unexpectedly slipped into a recession at the end of last year, losing its title as the world's third-biggest economy to ...

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Image courtesy of "The New York Times"

U.K. Economy Tipped Into Recession as 2023 Ended (The New York Times)

Growth contracted 0.3 percent from October to December, the latest sign of a lackluster economy slowed by weak retail sales.

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Image courtesy of "CNN"

Britain falls into recession, with worst GDP performance in 2023 in ... (CNN)

The United Kingdom has slipped into recession just months ahead of a general election, official figures showed Thursday, derailing Prime Minister Rishi ...

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