Weekly Market Commentary - 19 February 2024

This week we got what should have been monumental news that the UK is officially in recession. The specific definition being used for this head[1]line isn’t particularly useful however. Most people would associate a recession with rising unemployment, something we have yet to see. So far belt tightening in the retail sector is dragging down growth figures thanks to poor Christmas sales but if it keeps up, we can expect job losses eventually. That the last six months haven’t exactly been great for the UK economy should come as no surprise to anyone.

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