A recession probability map is going viral and it is looking bleak for the UK, and pretty amazing for India.
UK Recession?
This comes as a recession may be avoided over the next few years according to a forecast by the Bank of England
However, minimal growth will do little to help the Government as an election draws closer, and even less help for people struggling to pay theri bills.
Which?’s consumer insight tracker found that 2.4m UK households missed or defaulted on essential payments, including for housing, loans or credit cards, in the month to 13 July, reports The Guardian.
Rocio Concha, director of policy and advocacy at Which?, said: “
“We’d encourage anyone who’s struggling to seek free debt advice and reach out to their bill provider for help,” she said.
“As so many people face financial hardship, Which? is calling on businesses in essential sectors, like food, energy and telecoms, to do more to help customers get a good deal and avoid unnecessary or unfair costs and charges during this crisis.”
Recession probability map
Apurva Sanghi was one of many people who shared the map and wrote: “Latest recession probabilities as per Bloomberg: Important note: Even though risk is rising, these numbers don’t capture shallowness / depth of possible recession On M’sia, 2023 will be a tough year but I agree w/ BNM: M’sia will not slip into recession.”
Related: Tory minister tells older people what job to get – revved up responses
