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Daily Market Analysis By FXOpen
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[QUOTE="FXOpen Trader, post: 342219, member: 104606"] [B][SIZE=5]Although UK-100 Index Is Near All-time Highs, UK Economy Slips into Recession[/SIZE][/B] [img]https://i.imgur.com/08XLgyl.jpeg[/img] Technically, a national economic recession is defined as two consecutive quarters of contraction, and yesterday's Office for National Statistics data confirmed that this has happened — UK GDP fell in the third and fourth quarters of 2023 by 0.1% and 0.3% respectively. The Guardian writes that the recession may be deeper than it seems at first glance: → Increased government spending (including for the military) masks a deep and persistent decline in production. → The economy is shrinking despite population growth; → In the fourth quarter of 2023, the deficit widened to £26.3 billion, or 3.9% of GDP, up £5.9 billion from the third quarter. → The big problem is the decline in goods exports. Soaring prices for imported raw materials and energy have played a major role in increasing the cost of producing goods in the UK and making it difficult to sell them abroad. However, the price of the UK-100 index (or FTSE-100) is near all-time highs. This is because the Bank of England may ease monetary policy to avoid worsening the recession. And this will be a positive factor for the development of the top 100 companies whose shares are included in the index — this expectation is included in the current quote. [img]https://i.imgur.com/wkvkL79.png[/img] [B][URL="https://fxopen.com/blog/en/oa-although-uk-100-index-is-near-all-time-highs-uk-economy-slips-into-recession/?utm_source=trendriforum&utm_medium=analysis&utm_campaign=resolve"]TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG[/URL][/B] [I][B]Disclaimer:[/B] This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. [/I] [/QUOTE]
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