Previous UK Recessions

7th April 2025

The UK has experienced several recessions throughout its history. Here are some notable ones:

1973-1975: Triggered by the oil crisis and stagflation.

1980–1981: Caused by tight monetary policies and high inflation.

1990–1992: Resulted from high interest rates and falling house prices.

2008–2009: The global financial crisis led to a severe economic downturn.

2020: The COVID-19 pandemic caused a sharp contraction in economic activity.

These are just a few examples. Recessions are typically defined as two consecutive quarters of negative GDP growth.