I come from the future.
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UK: Stagflation nation
We forecast the economy of the United Kingdom to grind to a halt in the upcoming quarters, reaching the verge of a technical recession. Recessions attract headlines and stoke fears, but it’s not really important whether its technical definition is met or not: the UK faces a negative terms of trade shock and the cost of its energy, food and goods imports rises. The financial pain will be felt. Businesses are forced to raise prices to sustain margins, to be able to pay for wage increases and to compensate for output losses. Households see their living standards falling, their budgets squeezed, and could face ... (full story)