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EY ITEM Club Forecasts UK Recession To Be Deeper

Por: RTTNews Business January 23, 2023

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The UK is set for a deeper recession than previously projected due to high inflation, falling real incomes, rising interest rates and tight fiscal policy, the economic forecasting group EY ITEM Club cautioned on Monday.The economy is expected to shrink 0.7 percent this year, worse than the 0.3 percent contraction forecast in October, the group said in its Winter Forecast.Growth in gross domestic product for 2024 was downgraded to 1.9 percent... + full article



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