BREXIT WORSENS UK CLOTHING SECTOR IMPACT OF ONGOING RECESSION
December 22nd, 2022
With the Bank of England predicting Britain will be mired in recession until 2024 H2, the country’s clothing industry has been left considering how much worse this UK slump will be because of Brexit. The central bank has been focusing on more recent challenges – saying that "high energy prices and materially tighter financial conditions” (through interest rate increases fighting inflation) “will weigh on spending”.
But Britain’s recessionary outlook does look particularly bad compared to neighbouring countries that have remained in the European Union ...
Full access to this article can be arranged with permission from the client that first ordered it. Please contact us to request access. Entries are uploaded to our archive at least one year after being published by a client – free access is restricted to International News Services journalists for background research only. The article date indicates when copy was filed to a client, not when posted to this archive. Upon client requests, International News Services will remove such articles from the archive or not upload them in the first place. They are included to demonstrate the breadth of topics undertaken by the agency and also to help promote clients’ coverage.