Topic updates
A History of UK Recessions
![](https://tutor2u-net.imgix.net/user-photos/gbr_profile.jpg?auto=compress%2Cformat&crop=focalpoint&fit=crop&fp-x=0.5&fp-y=0.5&h=100&q=80&w=100)
30th October 2017
Each recession differs in length, depth and the time it takes for output to recover its pre-recession peak
This table is taken from the Fiscal Risk report published by the Office of Budgetary Responsibility in July 2017. They have undertaken a detailed research of the causes and effects of recessions in the UK over recent decades.
![](https://tutor2u-net.imgix.net/subjects/economics/uk_recessions.jpg?auto=compress%2Cformat&fit=clip&q=80&w=800)
The recession that started in the second quarter of 2008 following the sub-prime crisis caused real GDP to contract by more than 6 per cent from peak to trough. Not only was this the deepest UK recession in the post-war period, but it also took 22 quarters (nearly six years) for output to recover to the pre-recession level.
Among the questions you might want to consider are:
- What were the main causes of the recession that started in early 2008?
- What made the most recent recession the deepest for over sixt years?
- Why did it take so long for output to recover?
We have a collection of resources on recessions - available here
You might also like
What is the Output Gap?
Study Notes
Asset Price Cycles (Financial Economics)
Study Notes
![](https://tutor2u-net.imgix.net/user-photos/gbr_profile.jpg?auto=compress%2Cformat&crop=focalpoint&fit=crop&fp-x=0.5&fp-y=0.5&h=100&q=80&w=100)
Venezuela’s economic and political crisis in charts
25th July 2017
![](https://tutor2u-net.imgix.net/user-photos/gbr_profile.jpg?auto=compress%2Cformat&crop=focalpoint&fit=crop&fp-x=0.5&fp-y=0.5&h=100&q=80&w=100)
Financial Crisis Explained: 4 Short FT Videos
13th September 2018
![](https://tutor2u-net.imgix.net/user-photos/gbr_profile.jpg?auto=compress%2Cformat&crop=focalpoint&fit=crop&fp-x=0.5&fp-y=0.5&h=100&q=80&w=100)
Does our obsession with home ownership ruin the economy?
27th January 2020
![](https://tutor2u-net.imgix.net/user-photos/graham-watson.png?auto=compress%2Cformat&crop=focalpoint&fit=crop&fp-x=0.5&fp-y=0.5&h=100&q=80&w=100)
Chinese Economy - Evergrande teeters
7th December 2021
![](https://tutor2u-net.imgix.net/user-photos/gbr_profile.jpg?auto=compress%2Cformat&crop=focalpoint&fit=crop&fp-x=0.5&fp-y=0.5&h=100&q=80&w=100)
UK Economy Update December 2022: Watching for Signs of Recession
1st December 2022