Are We In A Recession 2024 Canada Or Uk. The uk will face one of the worst recessions and weakest recoveries in the g7 in the coming year, as households pay a heavy price for the government’s policy failings, economists say. After a year of surprising resilience in the face of high interest rates, canada’s economy enters 2024 in an uneasy state.

The combination of high inflation, falling real wages and a sharp rise in mortgage rates could belatedly push the uk economy into recession by the election. It also predicts that inflation will.