England is worse than expected. Recession started early and still has no Truss effect
The data broke all forecasts, all expected records on the behavior of the UK economy and reflected that it was the first Western economy to have headed straight for recession in an accelerated fashion. And the data does not yet reflect the Truss or Kwarteng debacle, the finance ministers who brought the entire British economy under control. Even before all that chaos, the UK economy contracted 0.3%, while expecting it to be zero growth.
The UK monthly manufacturing production forecast is forecast to be minus 0.1 has been -1.6% overall. UK economic data reflect an accelerated decline in its Gross Domestic Product: the UK economy is falling off a cliff. The recession has reached the UK; a recession that no doubt had an impact on all margins and on all UK macroeconomic data, but especially on industrial production and growth which started to frighten the global economy as a whole, seeing how the first Western economy whose economy was , instantly, crashed.
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