How deep and long-lasting a UK recession might prove to be

The UK economy is likely already in a recession, which has been widely anticipated by many. With 2022 delivering a global energy price shock, inflation at a four-decade high and the sharpest tightening in monetary policy since 1989, a sustained fall in GDP looks almost inevitable. The question then turns to, how deep and long-lasting a UK recession might prove to be?

Register to watch our latest webcast, where Peter Arnold, EY UK Chief Economist and Martin Beck, Chief Economic Advisor to EY ITEM Club, share a preview of our latest EY ITEM Club winter forecast report.

They will be joined by EY-Parthenon Partner, Turnaround and Restructuring Strategy, Claire Gambles, who will share her insights on the impact of high energy costs, particularly for energy-intensive manufacturers, and what businesses and consumers might expect from 2023. 

Topics discussed include:

• The EY ITEM Club’s winter forecast and implications for the UK’s economic recovery.
• An exploration of questions around entering recession in 2023 and how this will affect you.
• The headwinds which continue to confront the economy, but also the silver linings, including the prospect of a swift fall in inflation, which could lift economic activity out of its current malaise.

More information on the full forecast is available here.