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Recession coming before the end of the year, say business leaders

The economy will fall into recession before the end of the year, with inflation rising to 14%, according to a new report from the British Chambers of Commerce.

The British Chambers of Commerce has downgraded its outlook for the rise in British GDP to 3.3% in 2022, down from 3.5% three months ago.

It said Britain would enter a recession by the third quarter of this year, with GDP expected to have contracted in the second, third and fourth quarters.

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