"If Iran remains a threat and crude prices stay elevated, the consequences for the world economy would be profound."
"A pronounced UK recession at the beginning of the year is likely if energy costs remain near recent highs and borrowing costs increase."
"Everything depends on how energy prices move going forward, but we now expect growth of around 0.5% this year with a decent chance of a recession."
Larry Fink warned that elevated crude prices due to Middle East tensions could lead to a significant recession. Oil prices might reach $150 per barrel if the crisis persists. Conversely, easing tensions could lower prices, benefiting energy-dependent economies. Analysts predict a potential economic slowdown in the UK, with rising interest rates exacerbating the situation. The escalation has already impacted UK manufacturers, causing the fastest rise in factory input prices since 1992 and longer delivery times due to supply chain disruptions.
Read at London Business News | Londonlovesbusiness.com
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