UK economy’s January rebound is good news for the Budget
The CEBR has revised its forecast upwards, now expecting a 0.4% contraction in GDP in 2023.
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The CEBR has revised its forecast upwards, now expecting a 0.4% contraction in GDP in 2023.
We thought we had severed the connection between stock levels and boom-bust. Then came the pandemic.
Recession, falling house prices, and chaos in financial markets are likely to define 2023… but at least inflation is going down.
The latest ONS figures for May revealed that GDP grew by 0.5%, beating analyst forecasts of 0.1%.
The question now is about the severity and magnitude of the downturn and whether we can avoid a recession.Â
When did we stop appreciating diversity of economic opinion?
Europe’s biggest economy by far has a particular sensitivity to soaring energy costs and slowing global demand. Recession cannot be discounted.
The Chancellor might still hope that he can wait until the autumn before taking any further action. But with consumer confidence so fragile, he might not have that luxury.
Despite the looming crisis, forecasters expect consumer spending, the main engine of GDP growth, to grow.
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