Report: UK vulnerable to recession risks amid Middle East conflicts.

Nuveen's Laura Cooper stated in a report that the UK is facing "a significant risk of a mild recession" due to the impact of Middle East conflicts. Cooper said that the country's economic growth is weak, with the unemployment rate at a multi-year high of 5.2%, but the inflation risk posed by high energy costs is limiting the ability of the Bank of England to support the economy through interest rate cuts. The UK's public finances are deteriorating, making it difficult for the government to provide support to households as energy costs continue to rise. She said that if high energy costs lead to the Bank of England raising interest rates, the risk of the UK falling into a mild recession will increase.