IMF mocked for succession of failed forecasts as it downgrades UK's growth for next year to lowest in G7
The IMF was derided today as it dramatically overhauled forecasts yet again - this time claiming that the UK will have the lowest growth in the G7 next year. The international body marginally improved its expectations for Britain this year to 0.5 per cent growth, after GDP performed better than it had thought. As recently as April the IMF was saying the UK would suffer a recession this year, and has only managed to get its forecast right twice since 2016 The international body marginally improved its expectations for Britain this year to 0.5 per cent growth, after GDP performed better than it had thought. But it slashed the level for next year from 1 per cent to just 0.6 per cent Chancellor Jeremy Hunt said: 'The IMF have upgraded growth for this year and downgraded it for next - but longer term they say our growth will be higher than France, Germany or Italy. The IMF suggested the UK will see CPI inflation of 7.7 per cent for the current year, but that will slow to 3.7 per cent next year.
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