The US economy is booming — but Japan and the UK just slipped into recession. Here's why.
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Japan and the UK have slipped into recession, while the US economy is booming. Japan's economy shrank by 0.4% in the final quarter of 2023, following a 3.3% slump in the previous quarter. The weakening yen and an aging and shrinking population are contributing factors. The UK's economy contracted by 0.3% in the last quarter of 2023, marking its second consecutive quarterly contraction. The country is facing a cost-of-living crisis, weak spending, and the impact of leaving the European Union in 2016. The recession news is particularly challenging for UK Prime Minister Rishi Sunak, who is preparing for a general election later this year.

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https://www.businessinsider.com/recession-outlook-japan-uk-low-growth-yen-pound-rishi-sunak-2024-2