The Queen’s funeral may finally tip UK into recession, economists suggest

The economy grew by less than expected in July

The Queen's funeral could help tip the UK economy into recession earlier than forecast, economists have suggested.

The Office for National Statistics reported that gross domestic product (GDP) for the UK grew by just 0.2 percent in July, less than analysts had predicted.

Ths followed a 0.6 percent fall in June, which was partly put down to the extra celebrations and bank holidays for the Queen's Platinum Jubilee.

The extra bank holiday for September 19, the day of Her Majesty's funeral, is set to further impact the country's output, MarketWatch reports.

A recession is defined as two consecutive quarters of negative growth.

George Buckley, chief U.K. economist at Nomura, said: “The announcement of another bank holiday on Sept. 19 could also dampen GDP at the margin, over and above the recession we already expect over the coming year."

Meanwhile Philip Shaw, chief economist at Investec in London, explained that the period of national mourning and "subdued mood" could also result in a "dip in spending."

He said: “Since GDP suffered a minor contraction in Q2, this would imply that the economy is in a recession, albeit largely influenced by additional public holidays.

"While this is not our baseline case, we would not rule this out, especially if the subdued mood of the nation results in a dip in spending across the period of mourning.”

At the start of August, the Bank of England warned that the UK will fall into recession in the last three months of this year and would keep shrinking until the end of 2023.

Queen Elizabeth II's funeral will be held on Monday 19 September at Westminster Abbey in London, Buckingham Palace has confirmed.

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