Will There Be A Recession In 2024 Uk. The bank of england has warned the uk is facing its longest recession since records began, as it raised interest rates by the most in 33 years. Gdp fell in the uk in the final two quarters of 2023, by 0.1% and 0.3%, meaning the economy fell into recession.

The economy grew by 0.6% between january and march this year, according to official figures, meaning the uk is no longer recession. Official statistics published on thursday confirmed the uk economy slipped into a technical recession in the second half of last year.