UK economy enters recession as GDP falls 0.3%
Vložit
- čas přidán 13. 02. 2024
- The UK economy has entered recession as gross domestic product (GDP) shrank 0.3% between October and December - Office for National Statistics (ONS) data shows.
A recession is defined as two consecutive three-month periods where the economy contracts rather than grows.
Read more: news.sky.com/topic/uk-economy...
#unitedkingdom #recession #economy
SUBSCRIBE to our CZcams channel for more videos: / skynews
Follow us on Twitter: / skynews
Like us on Facebook: / skynews
Follow us on Instagram: / skynews
Follow us on TikTok: / skynews
For more content go to news.sky.com and download our apps: Apple itunes.apple.com/gb/app/sky-n... Android play.google.com/store/apps/de...
Sky News Daily podcast is available for free here: podfollow.com/skynewsdaily/
Sky News videos are now available in Spanish here/Los video de Sky News están disponibles en español aquí: / @skynewsespanol
To enquire about licensing Sky News content, you can find more information here: news.sky.com/info/library-sales
Honestly the average man or woman has never been out of recession since the last time
RECESSION FOR TAXPAYERS -PAYDAY FOR ILLEGALS & CORRUPT GOVT
Could always be worse.
Stop being average.
😢
Too many immigrants competing for jobs (keeping wages low) and housing/goods (inflating prices). Lots of them from Hong Kong.
We've been in a recession for nearly two decades, GDP per capita hasn't moved at all, it's shrunk! I'm not conspiratorially minded but anyone even vaguely aware of the figures knows the government does a bit of magic to portray them as growth, in real terms we have not grown at ALL since 2008. We've actually shrunk!
Such is the consequnce of having right wingers in power for so long
Some wages are the same level as 20 years ago. BUt money has halved in value, so some wages are half what they were. Not benefits, ofc. Thankfully we have a plan to share even more of the shrinking pie with the parasites on boats and planes. UK looks like E. Germany already. Heck, we even have our own stasi.
What magic has the government done ?
What wages are at the same level as 20 years ago ?
@@MarkJones-gt2qdthe real parasites are corporations that run off the work and custom of brits, but pay way less taxes than even the working class.
Sky trying to play down the recession 😂😂 amazing
Tory script
Corporate Legacy M$M is owned & operated
Wow this feels like a PR job by the government rather than independent critical journalism
100 % agree
Its because skynews is tory
Sky defends government’s recession
I noticed they tried that lol
Explain how, please ? As Sky News UK is hard left .Just watch Sky News Australia to see the truth
Our future under net zero.
@@TEMPLAR969Sky news Australia is blatantly hard right.
@MarkJones-gt2qd I see Germany closed all their nuclear power plants .And now inport 80% more coal from Russia. Net zero .Scotland uses huge diesel generators during the winter to prevent wind turbines from freezing as they do very often .
So basically it's a recession, but not like a recession recession....what a joke
Recession is important as the Government keeps telling everyone their Plan is Working..... Apparently NOT ? She is completely wrong Bank of England is not going to Drop Rates !
We ain't got out of a recession since the tories came in it's stagnated or got worse. The poorer areas ain't seen anything positive for 15+ years
Sadly those same areas voted for the tories, so they can't complain. Democracy innit?
@masterpiece3155 Sadly, most people don't vote. And those what did didn't exactly vote Tory they would of voted for the reform what lost the Labour vote
Not just the poorer areas. I'm in a fairly affluent area and the roads are falling apart, the police station is gone, the hospital moved to a much smaller building with less services, the schools are selling off sports fields in order to pay the bills and there are no NHS dentist places available in the whole of Somerset, Dorset or Wiltshire. This was a safe tory seat but they lost it in a recent byelection
Ruble didn't turn into rubble but pound got pounded.
Ruble, pound, Indian currency, whatever it's name, it's all irrelevant currencies anyways, compared to euro and dollar.
@@Just_another_Euro_dudegermany in recession
@@90stroll86 But EU growing, 1% in 2023 and 1,7% in 2024. And even with a small recession Germany still became bigger economy than Japanese and it's now third economy of the world all alone. While EU is going to get close to 20 trillion dollars of the nominal GDP in late 2024 and to 28/29 trillion dollars of the GDP PPP.
This sky presenter appears to be defending the mess that the UK is in. As a novice on economics that is what it looks like. In fact all on the panel are not presenting FACTS but theur opinions and defence of the incompetence of our leaders. No wonder people are confused.
Tories...
"Give us 4 more years to undo 13 years of damage....that we caused"
Ban spanish language
Could a Sky CEO please replace these 4 presenters with an AI chat please!
Seconded
Il THIRD that one!!! I beginning to think the Tories are paying them...
Politically correct set up of 4
AI would be less biased, clearly a tory voter
more like 3%. 0.3% is what uk sent to ukraine at the tax-payer's expense
Being the only country in the history of mankind to impose sanctions on itself might have something to do with it too. Whoever would have though us Paddy’s would be taking in economic migrants. Sorry, ex pats. Even Jude Bellingham got himself an Irish Passport. Stop blaming the Ukrainians. Blame yourself.
Yes it's our fault not the elite hahaha
Good, it is just a mild recession. UK can send more money to Ukraine. Then, UK people can return to the Sherrif Nottingham era of heavy tax. Welcome back Robin Hood!
Failed, lonely nation.
Oh were not lonely, we're uncle Sam's pet poodle 🤣
We really can’t take much more of this, how quickly we’ve become a third world country!
You only have to live here to know the UK was in recession.
Meanwhile the Russian economy is growing.
Exactly
War usually boosts the economy, no surprise there.
15 years under the tories and they’ll still say this is someone else’s fault
The economy hasn’t been struggling for the last 2 years. We been stagnant since Cameron and austerity. Who would of thought.
The rich have all the money the country cannot grow because the poor, working class can not grow and spend their way out what happens if the billionaires all leave?
and why would the billionaires leave?
leave? they're all in offshores xD
@@Dirpitzbingo
@@Dirpitz true but mean how dependent we are as a people now on them for job placement the working classes all work for them the government is scared to go after them as jobs losses would be huge via out sourcing etc
It is a lot hard to tax these companies when the patents are all held in Ireland and/or company/ceo is in our own tax havens
@@IDoNotLikeMyAlgorithm no we aren't dependent if they leave then it opens up a gap in the market that will be filled. It doesn't matter if they are giving in wages if they are leeching more out through profits
Just imagine how much of a recession we are actually in if there fiddled figures are admitting to a 0.3% GDP fall when outside of London the rest of the country has been in recession since 2008??
The economy was limping from 2008, and made Zero progress since 2019.
They must think we're stupid
But...but...Rishi says inflation is down...everything is sunshine and lollipops....how come he missed this?
Its the Bank of England and the Houthis fault.
Because he lives in LA LA LAND!!
No longer can the Conservatives says when criticised for slow growth ‘look at EU member Germany’ they are in recession and the UK is not. UK is still 4% inflation highest in the G7 too.
@@sfactory8253it's not the Houthis fault it's the government's again for A) supporting the apartheid regime and B) attacking the Houthis
@@alinaqirizvi1441 British irony
The UK is collapsing. Evern with infinite African the UK is in recession. Its way worse then people think. Inflation is caused by lockdown.
It collapsed years ago
How come there's been such a recent uptick in people from India speaking British English on national television and positions of power. Have we gone from outsourcing our sub par call centers to India to now outsourcing journalism and politics to India as well. Has anyone been to India lately and seen first hand??????
Google how many visas the Tories gave to India.
It's in the hundreds of thousands while they flap about a few thousand trying to cross the channel.
It's almost like a PM has a lot of Indian connections and is getting paid or something.
Went to India last month and the economy is red hot. It might beat Germany way before 2030 and become the fourth largest economy.
WEF creeps reporting for Klaus Swaub
#WEFResistance
At least we've got our sovereignty 😂
And still they are letting them in
Because the levers of power & policy is held by those running from civil war and not the Etonian Oxford alumni who has been silver spoon his whole life
Keep sending money to Ukraine and helping illegal migrants as Rishi Sunak planned.
Uk citizens are not important and they must sacrifice more for the political elites.
all of the EU countries are giving money to Ukraine, helping illegal immigrants so why has the UK gone down the pan?
The EU and UK are more self sufficient without Russia gas and commodities with the sanctions making Russia weak and the GDP of the eurozone and UK come out on top.
But billions are flowing out or at least billions not helping the ordinary citizens.
But I am sure the politicians have a cunning plan for their actual citizens although for the meantime must tighten their belts so to speak.
Yes those are clearly the problems and not total economic mismanagement for 14 years, the rest of the West is doing those things yet hasn't been in economic stagnation for over a decade or entered into a recession.
Except for the City, this country has been in recession for decades.
Britain is sliding down the mountain into the ravine of war and financial despair. Wars first vs. Brits last.
Increase the personal allowance rate and give us incentivised pension options and the student loans repayments need to be revised.
some of the last few Tory Voters in the UK before the extinction event in November
What extinction event ?
So how's Labour doing at the moment then .And I don't vote for anyone in the Westminster cesspit
@@alexmarsh1839 It's a fantasy they live from constantly playing video games
Let's wait for a major panic in Feb 25.
@@TEMPLAR969labour voter here and I don’t support genocide supporters. Voting green
Both the main parties are as bass as each other.
All by design. WAKE UP.
I'm pretty sure I just heard on the radio that we have just come out of recession and now were back in it 😂😂
But that's different recession, not like previous one.
Russia - a country at war and sanctioned heavily, grew by 3% last year and became the largest economy in Europe by PPP (5.2 trillion). UK is awesome isn’t it?
Doesn't war naturally inflate the economy?
That's according to the stats Russia puts out, which are about as trustworthy as an angry drug addict alone in your house. Though I would imagine Russia putting the economy into a war time industrial setting would have temporarily boosted the countries GDP, but it's a false boost, because it's just increased production for themselves, costing them rather than creating revenue and most of which is being destroyed in Ukraine. UK's not doing good, Russia's certainly not doing better.
All the media are playing down the recession and house price falls. Unfortunately professional journalism is not so common now.
Brexit doing a number on UK economy
I've never heard a news station be so positive about us being in recession. This would be front page of the newspapers for a month, if it was Labour in charge!
British gas profits up 943% this year, think of that?
Jeez 😮. Defintely greed has a part to play in this. Petroleum companies and food suppliers too.
Where’s our money 😡😡😡
given to the isrealis.
Sounds like she's a friend of Sunak😂
They are still blaming 2008, lol Why are most European countries growning strong?
Ohh wow who would of saw this coming! Let's see where this leads to.
Brexit benefits? Where's Nigel?
huh... staying in the EU isn't looking too bad now
Not really a surprise we are still in a recession, it has certainly felt like one for the last eight years. My FT salary has shrunk every year, for eight years! Also, how can she say that the Bank of England is going to drop rates when their last meeting, on January 31st 2024, said they were not going to?
Referendum on ALL Foreign Aid ⛑️
UK needs Every Penny for itself !
Good luck with that. Since Britain doesn't gain from other people's resources around the world. Denial is a strong drink.
Very important to note here, last recession was a global recession that was all blamed on Labour but was due to a global banking crisis that started in the US. This recession is a UK recession only that has absolutely nothing to do with tory mismanagement, Truss or Brexit.
14 years.
And to think it was Rishi Sunak who was the chancellor 😮 Ffs
Unbridled joy from the media
Austerity in the UK was imposed based on faulty data in an academic study. Osborne cited the study primarily for ideological reasons. The study was later corrected, the justification vanished, but it was too late. These conversations about the UK economy don't tend to focus on the fact austerity was a mistake and we're experiencing the effects of under-investment.
Yes indeed it was but Labour under Miliband failed to challenge austerity it was not challenged until Jeremy Corbyn became leader. Conservatives love an excuse to cut funding to public services they did it in the 1980’s and did it in 2010’s causing recessions both times.
Yes it was totally unnecessary.
@@dvidclapperton It didn't work. Other countries such as Germany were in a similar position in 2010 but instead of austerity they chose investment which created growth while the austerity here just strangled the economy. Austerity by definition means less money circulating in the economy and less money circulating means no growth. Investment in big infrastructure projects creates well paid jobs, creates business and gets money moving and people spending
And in the U.S. we are in the 2nd Great Depression. Good luck.
Weve been in a recession since 2020 buy they dodnt want to admitnit
Tories are rank amateurs they could not run an ice cream van, their plan has failed no surprise there as everyone in the UK has been bracing for this. Hunt and Rishi need to go.
Tax cuts😂it was 2% nobody is feeling that
It’s been in recession unofficially since at least 2020 and stagnant for almost the whole time the Tories have been in power, that’s why we are considerably poorer than we were 14 years ago relative to other advanced economies. Economists reckon British households are £10,000 a year worse off as a result.
Don't forget the b word.
5% that cost us according to fishy's old boss Goldman sax.
Had to be one lefty myopic hate comment. Effects from the bank crash?
@@TheWebstaff But the media aren't allowed to use the b-word.
Brexit is perhaps the worst thing that happened to the UK economy.
No longer can the Conservatives says when criticised for slow growth ‘look at EU member Germany’ they are in recession and the UK is not. UK 4% inflation highest in the G7 too.
And rishi plus family are minted.
Our country is finished regardless.
Playing down a recession. 😂
If there was not Trillions spent on Weapons, the World would be in a better place,
Mortgage lenders are raising mortgage rates- its called printing money and throwing it at a non innovative, non productive 'services economy
It is non-productive because workers are tired, poor and just don't care enough about the business they work for because that business doesn't pay them enough to live.
BREXIT, BRITAIN will be great again😅
May be, stop funding wars?
Things won’t uptick quickly. Poor old GB
How is the boe cutting interest rates slightly in the coming months going to put money in people's pockets apart from a few people on variable rate mortgages? What a load of crap.
enters recession, we never got out the first one properly. lmao
This is why nobody listens to Legacy media anymore
Print New Money 💰💰 Inflate our way out of Poverty and dump the debt on someone else lol
The UK desperately needs a new party in charge of the Government.A party that puts the UK first.
Labour/con both the same
Weak, bending over to please anyone except the people who matter…,
The people of the UK
£8 million a day just to house illegals . Not including free colleg education etc .
How many nurse’s could we hire for that money?
Would £8 million a day help the NHS?
How many police could that employ?
Billions given to Ukraine while the UK suffer?
Reform party is the only way forward.
The public wanted this... they got it
Yep, this is what they voted for time and again.
@@treeaboo they did yes but why would they do that ? Psychopaths
Pet, if people get any debt relieve, then they will be paying off debts, not spending on Chinse imports and expensive coffees.
It is a recession BUT it is a positive recession. All is well.....😅
Lol... "It's not a STEEP recession yet". So that's ok then? 😂
"Things will uptick quickly" - Jam tomorrow 🤣
The conventional wisdom used to be that growth of less than +1% would impact like a recession in the wider economy. In short we’ve been in near permanent recession like conditions for almost the whole time the Tory Government has been in power, one reason we now lag miles behind our peer nations in GDP per capita leaving a typical household £10000 a year worse off than they should have been if we’d had trend growth for the last 14 years.
Jam yesterday, Jam tomorrow. But NEVER jam today!
@@pipoo1 At this point I'll settle for normal people running this country with sensible policies. Right now it's a corrupt clown show.
Tories couldnt have had a worse past few years. Wow
Bloody semantics, we’ve been in a virtual recession the last 12 months or more😒🤬
Weak economy
Don't worry about it. Send more aid to Ukraine.
How about introducing price cap for product, rent cap for landlords per region?
Price cap just produce black markets
We already knew , the country needs a plan and this government need to move on , fast .
"WE NEED MORE PORK MARKETS!" - Liz Truss
Stupid to be cutting rates while core cpi is still 4%
What economy ?
This gov is a joke they all sit on there 100+k a year while we choose between heating or food 👍👍
No surprise lol hs2 is draining the money
What is sky news playing at lol
where do they find these people?
the person reporting the figures has a really annoying habit with her hands.
What a coincidence since left EU the economy is not growing, come one right wingers please come forward and tell us again how wonderful is outside of EU, come one please
Tell that to Germany and European farmers 😂
@@Robert-xy4xi I'm in Germany right now and I'd rather have Germany recession than UK recession at least Germany can see the light as for the farmers the Green deal is necessary for nature to grow I mean look at the Netherlands Forrest is dying because of the farmers, the farmers can reduce farm animal and get subsidy or they have the option of gov buyback
Er..did we never have recessions while we were in the EU then?
Lockdown was the main cause.closing the economy for two years was catastrophic
Submerging economy.
But the rich get richer
...
The propaganda is insane
UK needs to expand its industrial base, and do more to attract corporate investment in country, long-term.
Good luck with that, Brexit is like a STD nobody wants to
Rishy doing a great job.
SUNAK payed 23% of tax from his income last year, over 1 million. I earn 40k and payed 20% how is that fair? Tax laws need to change
Finally, a Brexit Benefit????????? The trouble with video clips is that people talk too much waffle without any real thought. An article in writing, that must, of necessity, be concise is far more informative.
Where's Nigel Farage? Where are the Brexit promises?
Another promise broken by Sunak so much for growing the economy.