UK economy to suffer more than sanctions-hit Russia in 2023, warns IMF
2 years, 1 month ago

UK economy to suffer more than sanctions-hit Russia in 2023, warns IMF

The Telegraph  

The UK is on course to be the only major economy to shrink this year owing to Jeremy Hunt's tax raid and higher borrowing costs, according to the International Monetary Fund. It leaves the UK economy languishing behind Germany and even sanctions-hit Russia, with both countries expected to eke out modest growth this year. On Wednesday, Britain faces the biggest day of industrial action in over a decade with strikes by an estimated 500,000 workers across seven unions set to bring the economy to a halt. The Fund singled out the UK as the only big economy in the advanced or developing world set to suffer a contraction, with a predicted decline of 0.6pc in 2023.

2023 Warns  economy  walkout  set  workers  russia  growth  yearit  sanctionshit  imf  2023  warns  world  uk  suffer  monetary

History of this topic

UK economic growth forecasts downgraded for 2025 – EY
1 month, 3 weeks ago

UK economic growth forecasts downgraded for 2025 – EY

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Stagnant growth late last year …

UK economy to grow by 1.6% this year after weaker-than-expected 2024 – IMF
2 months, 1 week ago

UK economy to grow by 1.6% this year after weaker-than-expected 2024 – IMF

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. “Of course, some of the Budget is financed by …

IMF Warns of Global Economic Headwinds, Downgrading Growth Projections
5 months ago

IMF Warns of Global Economic Headwinds, Downgrading Growth Projections

China Daily  

The International Monetary Fund (IMF) has downgraded its global growth projections for 2024, with a revised forecast of 3.2 percent for this year and 4.5 percent for 2025. The IMF warns about the global economic outlook, highlighting geopolitical risks, trade protectionism, and challenges in the real estate sector.

UK economic growth forecasts downgraded for next two years – economists
5 months ago

UK economic growth forecasts downgraded for next two years – economists

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. EY Item Club’s latest quarterly economic forecast also suggested that caution by Bank of …

Britain facing biggest tax rise in G7 even before Reeves’s Budget
5 months ago

Britain facing biggest tax rise in G7 even before Reeves’s Budget

The Telegraph  

The IMF warned that UK debt was on course to keep climbing until the end of the decade, putting it on an unsustainable path. Its chief economist warned this week that rising debt could leave the UK at the “mercy of market pressures” in the absence of a plan to drive it down. The IMF’s latest projections show “general government …

New fears Brexit has ‘drained life out of UK economy’ following IMF report
8 months ago

New fears Brexit has ‘drained life out of UK economy’ following IMF report

The Independent  

Sign up to our free Brexit and beyond email for the latest headlines on what Brexit is meaning for the UK Sign up to our Brexit email for the latest insight Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please …

Britain to be fastest growing major European economy, IMF predicts
8 months, 1 week ago

Britain to be fastest growing major European economy, IMF predicts

The Telegraph  

Thanks for joining me. 5 things to start your day 1) National Grid: Britain will remain dependent on gas for years | Forecasts predict higher than expected demand, in blow to net zero ambitions 2) We’re not a c----- employer, insists Wetherspoon boss after attack by union chief | Rebuttal comes as chain is accused of being ‘anti-union’ and offering …

Economy set for ‘soft landing’ as IMF upgrades UK growth forecasts
10 months ago

Economy set for ‘soft landing’ as IMF upgrades UK growth forecasts

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The UK economy is set …

IMF upgrades UK growth forecasts and warns Bank of England over 'delays' to interest rate cuts - as Jeremy Hunt swipes at 'unjustified pessimism' about economy
10 months, 1 week ago

IMF upgrades UK growth forecasts and warns Bank of England over 'delays' to interest rate cuts - as Jeremy Hunt swipes at 'unjustified pessimism' about economy

Daily Mail  

The IMF upgraded forecasts for the UK economy today as Jeremy Hunt swiped at 'unjustified pessimism'. The international body said Britain is on track for a 'soft landing', with GDP predicted to rise 0.7 per cent this year as inflation eases. Jeremy Hunt met the managing director of the IMF, Kristalina Georgieva, at Downing Street today Official figures for the …

IMF’s Georgieva says there’s ‘plenty to worry about’ despite recovery for many economies
11 months, 1 week ago

IMF’s Georgieva says there’s ‘plenty to worry about’ despite recovery for many economies

Associated Press  

WASHINGTON — The head of the International Monetary Fund said Thursday that the world economy has proven surprisingly resilient in the face of higher interest rates and the shock of war in Ukraine and Gaza, but “there is plenty to worry about,’' including stubborn inflation and rising levels of government debt. In the United States, she said, “the flipside’’ of …

IMF: Outlook for world economy is brighter, though still modest by historical standards
11 months, 1 week ago

IMF: Outlook for world economy is brighter, though still modest by historical standards

Associated Press  

WASHINGTON — The International Monetary Fund has upgraded its outlook for the global economy this year, saying the world appears headed for a “soft landing” — reining in inflation without much economic pain and producing steady if modest growth. In its latest outlook, the IMF, a 190-country lending organization, notes that the global expansion is being powered by unexpectedly strong …

IMF head projects slightly stronger global growth in 2024 and warns of potential long-term pitfalls
11 months, 2 weeks ago

IMF head projects slightly stronger global growth in 2024 and warns of potential long-term pitfalls

Associated Press  

WASHINGTON — Strong economic activity in the United States and emerging markets is projected to help drive global growth by about 3% this year, the International Monetary Fund’s chief said Thursday, below the annual historic average and a warning sign about potential lackluster performances through the 2020s. “Without a course correction, we are indeed heading for ‘the Tepid Twenties’ -– …

UK economy went into shallow recession in 2023: Official data
1 year ago

UK economy went into shallow recession in 2023: Official data

Live Mint  

Britain's economy entered a shallow recession last year, official figures confirmed on Thursday, leaving Prime Minister Rishi Sunak with a challenge to reassure voters that the economy is safe with him before an election expected later this year. "The weak starting point for GDP this year means calendar-year growth in 2024 is likely to be limited to less than 1%," …

Britain to suffer highest inflation in the G7 in 2024 and 2025, OECD
1 year, 1 month ago

Britain to suffer highest inflation in the G7 in 2024 and 2025, OECD

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. This verdict on their economic performance is yet more proof …

Britain’s Conservative government warned against tax cuts by IMF economist
1 year, 1 month ago

Britain’s Conservative government warned against tax cuts by IMF economist

Associated Press  

LONDON — The International Monetary Fund’s chief economist has advised the U.K. government to avoid further tax cuts amid expectations Prime Minister Rishi Sunak’s battered administration will do just that to win over voters in an election year. Instead of reducing taxes, the government should ensure it is prepared to meet increasing demands for spending on the National Health Service, …

IMF sketches a brighter view of global economy, upgrading growth forecast and seeing lower inflation
1 year, 1 month ago

IMF sketches a brighter view of global economy, upgrading growth forecast and seeing lower inflation

Associated Press  

WASHINGTON — The International Monetary Fund has upgraded its outlook for the world economy this year, envisioning resilient growth led by the United States and a slower pace of inflation. But Gourinchas said that for now, the Red Sea disruptions don’t seem to be “a major source of reigniting supply side inflation,” which arose from far more severe shipping backlogs …

IMF mocked for succession of failed forecasts as it downgrades UK's growth for next year to lowest in G7
1 year, 5 months ago

IMF mocked for succession of failed forecasts as it downgrades UK's growth for next year to lowest in G7

Daily Mail  

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 …

Why Britain will beat IMF’s bleak forecasts – but still faces a low-growth trap
1 year, 5 months ago

Why Britain will beat IMF’s bleak forecasts – but still faces a low-growth trap

The Telegraph  

The accuracy of the International Monetary Fund’s forecasts has come under greater scrutiny than ever after it published gloomy predictions that analysts warned were already out of date. The Fund claimed Britain’s economy will be the worst performing in the G7 next year, posing a potential headache for Rishi Sunak as he fights the next general election. The latest predictions …

IMF downgrades outlook for ‘limping’ world economy, with Mideast posing new challenge
1 year, 5 months ago

IMF downgrades outlook for ‘limping’ world economy, with Mideast posing new challenge

LA Times  

The International Monetary Fund and World Bank are holding their annual meetings in Marrakech, Morocco. “The global economy is limping along, not sprinting,” IMF chief economist Pierre-Olivier Gourinchas said at a news conference during the organization’s annual meeting, which is being held in Marrakech, Morocco. It’s “too early” to assess the impact on global economic growth from the days-old war …

IMF global economic outlook sees slight growth, but inflation still a drag
1 year, 8 months ago

IMF global economic outlook sees slight growth, but inflation still a drag

Associated Press  

WASHINGTON — Global growth will see a slight improvement compared to previous International Monetary Fund projections but “many challenges still cloud the horizon, and it is too early to celebrate,” the organization’s chief economist said Tuesday. IMF economist Pierre-Olivier Gourinchas gave his assessment as the organization projected that global economic growth will slow to an estimated 3% in 2023 and …

British economy will outperform Germany this year, IMF admits
1 year, 8 months ago

British economy will outperform Germany this year, IMF admits

The Telegraph  

Britain will outperform Germany this year, according to the International Monetary Fund, after its worst fears for the UK economy failed to materialize. The IMF expects the UK economy to grow by 0.4pc this year, it said on Tuesday, confirming predictions published in May as part of its annual economic healthcheck. The IMF said the Windsor Framework agreement announced by …

Britain’s economy to suffer second worst growth in G7 this year
1 year, 9 months ago

Britain’s economy to suffer second worst growth in G7 this year

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Britain’s economy will suffer the second worst growth in the …

UK economy to avoid recession but inflation still a worry, IMF says
1 year, 10 months ago

UK economy to avoid recession but inflation still a worry, IMF says

Associated Press  

LONDON — The British economy will avoid falling into recession this year, according to upgraded growth forecasts Tuesday from the International Monetary Fund. IMF Managing Director Kristalina Georgieva said at a press briefing in London that the latest assessment reflects “favorably” on the U.K. in comparison to other countries in the Group of Seven leading industrial nations. Despite the more …

UK economy is no longer to fall into a recession in 2023, says IMF
1 year, 10 months ago

UK economy is no longer to fall into a recession in 2023, says IMF

Firstpost  

Britain’s economy is no longer will fall into a recession this year, the International Monetary Fund said on Monday, adding that it upgraded forecasts published last month and warned that the outlook remains subdued. “The improved outlook reflected the unexpected resilience of demand, helped in part by faster than usual pay growth, higher government spending and improved business confidence,” it …

IMF no longer expects UK recession this year
1 year, 10 months ago

IMF no longer expects UK recession this year

CNN  

London CNN — The United Kingdom will not, after all, be the worst-performing rich economy this year, the International Monetary Fund said Tuesday, announcing a major revision to its previous gloomy forecast. The forecast reflected “higher-than-expected” resilience in demand helped by strong wage growth, improved confidence and falling energy prices, the IMF added. While previously the IMF saw UK GDP …

UK to be worst-performing economy in G7 this year, IMF warns
1 year, 11 months ago

UK to be worst-performing economy in G7 this year, IMF warns

The Independent  

Britain is on course for the worst economic performance of any country in the G7, the International Monetary Fund has predicted, as it warned of more turmoil in a “fragile” global financial system. “Notably, emerging market and developing economies are already powering ahead in many cases, with growth rates jumping from 2.8 per cent in 2022 to 4.5 per cent …

IMF: Prolonged high inflation dims outlook for world economy
1 year, 11 months ago

IMF: Prolonged high inflation dims outlook for world economy

Associated Press  

WASHINGTON — The outlook for the world economy this year has dimmed in the face of chronically high inflation, rising interest rates and uncertainties resulting from the collapse of two big American banks. The fund said the possibility of a “hard landing,” in which rising interest rates weaken growth so much as to cause a recession, has ”risen sharply,” especially …

British economy will take a smaller hit in 2023 than previously anticipated, says IMF
1 year, 11 months ago

British economy will take a smaller hit in 2023 than previously anticipated, says IMF

Firstpost  

Britain is no longer the only Group of Seven economy set for a fall in GDP this year as Germany too is now expected to shrink by 0.1%, the IMF global forecasts indicated. After narrowly avoiding recession in 2022, Britain’s economy has shown some signs of resilience in early 2023 London: Britain is expected to take a smaller economic hit …

IMF increases Russian growth forecast in 2023 on deficit-fueled government spending
1 year, 11 months ago

IMF increases Russian growth forecast in 2023 on deficit-fueled government spending

Firstpost  

Washington, United States: The International Monetary Fund increased its estimate of Russian economic growth in 2023 on Tuesday, anticipating that government expenditure fuelled by budget deficits will help offset the rising costs of Russia’s conflict in Ukraine. After contracting by 2.1 per cent last year, the IMF now sees Russia’s economy growing by 0.7 per cent this year, up 0.4 …

IMF: Prolonged high inflation dims outlook for world economy
1 year, 11 months ago

IMF: Prolonged high inflation dims outlook for world economy

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The outlook for the world …

Britain to remain world’s worst-performing large economy in 2023
1 year, 11 months ago

Britain to remain world’s worst-performing large economy in 2023

The Telegraph  

Britain will still be the worst-performing large economy in the world this year, even after a significant upgrade in its forecasts, according to the International Monetary Fund. It means that the UK will remain the world’s worst-performing large economy: in Russia, which has been targeted by wide-ranging sanctions from Europe and the US in the wake of the Ukraine war, …

IMF: Banking crisis boosts risks and dims outlook for world economy
1 year, 11 months ago

IMF: Banking crisis boosts risks and dims outlook for world economy

CNN  

London CNN — At the start of the year, economists and corporate leaders expressed optimism that global economic growth might not slow down as much as they had feared. The International Monetary Fund downgraded its forecasts for the global economy Tuesday, noting “the recent increase in financial market volatility.” The IMF now expects economic growth to slow from 3.4% in …

UK economy avoids decline but cost of living pains many
2 years, 1 month ago

UK economy avoids decline but cost of living pains many

Associated Press  

LONDON — The small notice pinned to a wall at Union Chapel in north London is a sign of despair for charity workers dealing with the fallout from Britain’s cost-of-living crisis. “It’s just completely wrong.’’ The pressures are likely to get worse as Britain faces a prolonged economic slowdown triggered by soaring food and energy prices and compounded by tax …

UK economy to shrink more than Russia, predicts IMF
2 years, 1 month ago

UK economy to shrink more than Russia, predicts IMF

The Independent  

Britain’s economy will have the worst performance of all G7 economies even sinking below Russia. In its latest update, the International Monetary Fund downgraded its UK forecast once again, predicting a contraction of 0.6 per cent against the 0.3 per cent growth pencilled in last October. The proof will be in the pudding.” The IMF did nudge up its outlook …

Should I be worried by the IMF’s grim forecasts for the UK economy?
2 years, 1 month ago

Should I be worried by the IMF’s grim forecasts for the UK economy?

The Independent  

Sign up to our free Brexit and beyond email for the latest headlines on what Brexit is meaning for the UK Sign up to our Brexit email for the latest insight Sign up to our Brexit email for the latest insight SIGN UP I would like to be emailed about offers, events and updates from The Independent. The IMF also …

IMF upgrades outlook for the global economy in 2023
2 years, 1 month ago

IMF upgrades outlook for the global economy in 2023

Associated Press  

WASHINGTON — The outlook for the global economy is growing slightly brighter as China eases its zero-COVID policies and the world shows surprising resilience in the face of high inflation, elevated interest rates and Russia’s ongoing war against Ukraine. The IMF said China’s “recent reopening has paved the way for a faster-than-expected recovery.’’ The IMF now expects China’s economy — …

IMF lifts 2023 global growth forecast; says recession risk lower
2 years, 1 month ago

IMF lifts 2023 global growth forecast; says recession risk lower

The Hindu  

The outlook for the global economy is growing slightly brighter as China eases its zero-COVID policies and the world shows surprising resilience in the face of high inflation, elevated interest rates and Russia's ongoing war against Ukraine. The IMF said global growth would still fall to 2.9% in 2023 from 3.4% in 2022, but its latest World Economic Outlook forecasts …

UK economy to fare worse than any other country in developed world in 2023: IMF
2 years, 1 month ago

UK economy to fare worse than any other country in developed world in 2023: IMF

Hindustan Times  

The International Monetary Fund said that UK's economy would fare worse than any other country in the developed world - including Russia, in the latest update of its economic forecasts. UK economy would face a downgrade “reflecting tighter fiscal and monetary policies and financial conditions and still-high energy retail prices weighing on household budgets”, IMF noted. “On the downside, severe …

‘Turning point’: IMF raises 2023 world growth forecast to 2.9%, 1st in a year
2 years, 1 month ago

‘Turning point’: IMF raises 2023 world growth forecast to 2.9%, 1st in a year

Hindustan Times  

Global growth is set to be higher than expected this year, the IMF said Monday, raising its forecast on surprisingly strong consumption and investment while China's lifting of zero-Covid restrictions provides another boost. The International Monetary Fund expects the world economy to expand 2.9 percent this year, slowing from 2022 to a rate that remains weak by historical standards, said …

IMF retains India’s GDP growth outlook for next fiscal at 6.1%
2 years, 1 month ago

IMF retains India’s GDP growth outlook for next fiscal at 6.1%

Live Mint  

The International Monetary Fund on Tuesday projected India to be the fastest-growing major economy in FY24, retaining the forecast at 6.1% in its latest World Economic Outlook, citing “resilient” domestic demand despite a challenging external environment. “Growth in India is set to decline from 6.8% in 2022-23 to 6.1% in 2023-24, before picking up to 6.8% in 2024, with resilient …

Global economy ‘perilously close’ to a recession: World Bank
2 years, 2 months ago

Global economy ‘perilously close’ to a recession: World Bank

Al Jazeera  

The global economy will come “perilously close” to a recession this year, led by weaker growth in all the world’s top economies – the United States, Europe and China – the World Bank warned on Tuesday. Though the United States might avoid a recession this year – the World Bank has predicted the US economy will eke out growth of …

UK economy shrinks as economists warn of more pain to come
2 years, 4 months ago

UK economy shrinks as economists warn of more pain to come

Associated Press  

LONDON — Britain’s economy shrank in the three months to September, official statistics said Friday, as forecasters warned of many months of contraction to come. Martin McTague, national chairman of the Federation of Small Businesses, said the fall in GDP “is one headline figure made up of countless bits of disappointing news for small businesses across the country – a …

UK economy to enter recession until summer 2023, financial experts warn
2 years, 5 months ago

UK economy to enter recession until summer 2023, financial experts warn

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. A combination of high energy …

Yellen says US economy ‘resilient’ amid global headwinds
2 years, 5 months ago

Yellen says US economy ‘resilient’ amid global headwinds

Associated Press  

WASHINGTON — U.S. Treasury Secretary Janet Yellen sought Wednesday to project confidence in the U.S. financial outlook while pledging vigilance in responding to “risks on the horizon.” She is offering that message as global finance leaders gather in Washington to discuss the increasingly dismal view of the global economy. “Our economy remains resilient in the face of global economic headwinds,” …

Britain ‘step closer to recession’ after economy shrank in August
2 years, 5 months ago

Britain ‘step closer to recession’ after economy shrank in August

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Britain’s economy unexpectedly shrank in …

IMF dims outlook for 2023 global economy amid Ukraine war
2 years, 5 months ago

IMF dims outlook for 2023 global economy amid Ukraine war

Associated Press  

WASHINGTON — The International Monetary Fund is downgrading its outlook for the world economy for 2023, citing a long list of threats that include Russia’s war against Ukraine, chronic inflation pressures, punishing interest rates and the lingering consequences of the global pandemic. The 190-country lending agency forecast Tuesday that the global economy would eke out growth of just 2.7% next …

IMF cuts 2023 growth outlook amid colliding global shocks
2 years, 5 months ago

IMF cuts 2023 growth outlook amid colliding global shocks

The Hindu  

The International Monetary Fund on October 11 cut its global growth forecast for 2023 amid colliding pressures from the war in Ukraine, high energy and food prices, inflation and sharply higher interest rates, warning that conditions could worsen significantly next year. The IMF said global GDP growth next year will slow to 2.7%, compared to a 2.9% forecast in July, …

IMF cuts India's economic growth forecast to 6.8% for 2022-23
2 years, 5 months ago

IMF cuts India's economic growth forecast to 6.8% for 2022-23

India TV News  

Highlights India had grown at 8.7 percent in 2021-22 fiscal Global growth is forecast to slow from 6.0% in 2021 to 3.2% in 2022 and 2.7% in 2023 According to predictions, more than a third of the global economy will contract in 2023 The International Monetary Fund on Tuesday cut its projection of India's economic growth in 2022 to 6.8 …

IMF cuts India's economic growth forecast to 6.8% in 2022
2 years, 5 months ago

IMF cuts India's economic growth forecast to 6.8% in 2022

Hindustan Times  

The International Monetary Fund on Tuesday cut its projection of India's economic growth in 2022 to 6.8 per cent, as it joins other global agencies that have trimmed forecasts. The IMF had in July projected a gross domestic product growth of 7.4 per cent for India in the fiscal year that started in April 2022. In its annual World Economic …

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