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Podcast: Beyond Currency
Episode: 24 January 2023 - Recession seen as deeper, not necessarily longer
Description: Top accounting firm Ernst and Young dispute the Governor of the Bank of England’s assertion that while the coming recession may last longer than has been the norm over recent contractions, it will be shallower.
However, they still see the economy beginning to grow again from the middle of this year, which is earlier than Andrew Bailey has previously forecast. While the country will emerge from the recession, it will not see the level of growth it has seen in recent years. In 2023 the economy is expected to shrink overall by 0.7%, in 2024, 1.9% and in 2025 2.3%.
Overall, in 2022 the economy is ex...