How would a recession affect you?
Will there be a soft landing, or is a big crash on the way?
LIFESTYLE Finance
In February 2024, the UK announced it had fallen into recession in the second half of 2023. Due to a much more severe contraction in the last quarter of the year, it joined Japan to became the second G7 country now in an economic downturn. Afterwards, Citi's chief US economist stated that he expects the US to fall into recession in the middle of 2024. But what exactly is a recession? And if one is coming, how could it affect you?
Click on to find out everything you need to know to prepare for the next big squeeze.