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UK 'On Brink' Of Recession — 250,000 People Could Lose Jobs By Mid-2027 Due To Iran War

Recession
International Business Times Fews App News Provider
Fews App Post Time Hace 18h

Close to 250,000 people could lose their jobs by mid-2027 as the UK economy teeters on the edge of recession, battered by surging energy costs and shattered supply chains tied to the Iran conflict, according to a report published on Sunday by the EY Item Club. The forecasting group, which uses the Treasury's own model of the British economy, said GDP growth will halve to 0. 7 per cent in 2026, down from 1.

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