| 

UK slips into technical recession; trade & FTA negotiations at risk

Reasons for the downfall

Europe and the US are facing immense pressure due to a variety of conditions—both international and unique domestic factors that impact the functioning of their economies. Europe, on the other hand, has become one of the most vulnerable economies due to the Russia-Ukraine war and the increasing cost of living in those countries caused by a strain in the supply of gas from Russia. Additionally, the UK economy is under stress due to persistently high inflation, structural weaknesses in the labour market, and low manufacturing growth, which in turn have affected instrumental sectors of the economy such as construction and services. The significant sanctions imposed on Russia have placed countries in the European region under economic strain. The UK is the first country to collapse in Europe, while Germany is also at risk of entering a recession. UK&#**;s GDP contracted by *.* per cent in the third quarter of **** and by *.* per cent in the fourth quarter.