Stalling UK economy risks recession - National Institute of Economic and Social Research

FILE PHOTO: Construction cranes are seen above a refurbished Mill building in the city centre of Manchester, Britain, February 23, 2019. REUTERS/Phil Noble - Copyright Phil Noble(Reuters)

By Reuters

Published on 22/07/2019 - 11:04•Updated 23/04/2024 - 21:37

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LONDON (Reuters) - Economic growth in Britain has stalled and there is a one-in-four chance it has fallen into a technical recession, when output contracts for two quarters running, the National Institute of Economic and Social Research said.

"The outlook beyond October, when the United Kingdom is due to leave the European Union, is very murky indeed with the possibility of a severe downturn in the event of a disorderly no-deal Brexit," it said in a report published on Monday.