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Analysis-UK slips towards recession, heaping pressure on next PM to help

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Reuters UK

By William Schomberg LONDON (Reuters) – Britain’s slide towards a recession has gathered momentum after data this week showed inflation jumping above 10%, wages lagging far behind price growth and consumer confidence sinking to a record low. The deteriorating picture for the world’s fifth-biggest economy comes after the Bank of England warned this month of a 15-month contraction from the end of this year, worse than the outlook for other big European economies and the United States. Higher-than-expected public borrowing figures on Friday underlined the hard decisions facing the next prime mini…

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