UK Economy to Outperform Europe in Next 15 Years, Says CEBR
2 weeks ago

UK Economy to Outperform Europe in Next 15 Years, Says CEBR

Live Mint  

-- The UK will outperform its struggling European peers in the next 15 years, helping it to cling onto its place among the world’s biggest economies, according to long-term projections. “While this outlook is markedly better than key European peers like France and Germany, both of whom are expected to slip, this reflects a relatively poorer outlook for Eurozone economies rather than strong UK growth,” CEBR said. While CEBR warned that Labour’s tax hikes will mean weaker activity growth in the short-term, it expects the trend growth rate to hit 1.8% in the longer run. “We do expect China to eventually claim the top spot, though structural and demographic constraints suggest its tenure as the global economic leader will be brief,” said Sam Miley, CEBR managing economist and forecasting lead.

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History of this topic

Britain to be fastest growing major European economy, IMF predicts
5 months, 3 weeks 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 …

The Brexit bill: £100bn hit to UK exports as toy, medical kit and jewellery sales slump
10 months, 4 weeks ago

The Brexit bill: £100bn hit to UK exports as toy, medical kit and jewellery sales slump

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. John …

Europe’s biggest economy shrank last year as Germany struggles with multiple crises
11 months, 3 weeks ago

Europe’s biggest economy shrank last year as Germany struggles with multiple crises

Associated Press  

FRANKFURT, Germany — Germany’s economy shrank 0.3% last year as Europe’s former powerhouse struggled with more expensive energy, higher interest rates, lack of skilled labor and a homegrown budget crisis. The International Monetary Fund expected Germany to be the worst-performing major developed economy last year, a major turnaround from its place as a model for how to expand when other …

Even if Britain beats OECD forecasts, it faces slow growth and high inflation
1 year, 3 months ago

Even if Britain beats OECD forecasts, it faces slow growth and high inflation

The Independent  

Barely a day after the Bank of England’s former governor, Mark Carney, accused Liz Truss of turning UK plc into a basket case – in stark contrast to her attempts to create a ‘Singapore-on-Thames’ – the OECD joined the fray. But Carney had indulged in more than a little hyperbole in his jibe that “when Brexiteers tried to create Singapore …

British economy will outperform Germany this year, IMF admits
1 year, 5 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 faces years of stagnation because of high interest rates, economists warn
1 year, 5 months ago

Britain faces years of stagnation because of high interest rates, economists warn

The Telegraph  

Britain is facing a prolonged economic slump caused by higher interest rates, economists have warned, with the battle against inflation set to weigh on growth for years to come. In its latest quarterly update, the group said the economy is set to grow by 0.8pc next year, less than half its previous prediction of 1.9pc. Martin Beck, chief economic adviser …

Germany economy shrinks in first quarter, signaling one definition of recession
1 year, 7 months ago

Germany economy shrinks in first quarter, signaling one definition of recession

Associated Press  

BERLIN — The German economy shrank unexpectedly in the first three months of this year, marking the second quarter of contraction that is one definition of recession. Two consecutive quarters of contraction is a common definition of recession, though economists on the euro area business cycle dating committee use a broader set of data, including employment figures. Employment in the …

UK economy to avoid recession but inflation still a worry, IMF says
1 year, 7 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 …

British economy will take a smaller hit in 2023 than previously anticipated, says IMF
1 year, 8 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 …

Britain to remain world’s worst-performing large economy in 2023
1 year, 8 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, …

UK economy avoids decline but cost of living pains many
1 year, 10 months 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 fare worse than any other country in developed world in 2023: IMF
1 year, 11 months 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 …

The grim charts that show how the British economy will lag behind its main rivals
2 years, 1 month ago

The grim charts that show how the British economy will lag behind its main rivals

The Telegraph  

The UK economy will do considerably worse than most of its closest competitors over the next few years, new forecasts from the OECD suggest. This means there’s little hope of respite for British families already facing the fastest rising food costs in 42 years, soaring mortgage bills and falling real incomes. The grim outlook is laid out in charts from …

The UK economy is sliding into recession and Europe is set to follow
2 years, 1 month ago

The UK economy is sliding into recession and Europe is set to follow

CNN  

London CNN Business — The UK economy shrank in the third quarter, signaling the start of a recession that is likely to hit Europe next. “Lower consumer spending appetite is likely to help push GDP into a second-straight contraction during the fourth quarter,” James Smith, developed markets economist at ING, said in a note on Friday. “As inflation keeps cutting …

India becomes the 5th largest world economy, overtakes UK
2 years, 4 months ago

India becomes the 5th largest world economy, overtakes UK

Op India  

India has overtaken the United Kingdom to become the 5th largest economy in the world, reported Bloomberg. Britain drops behind India to become the world’s sixth largest economy The former British colony jumped past the UK in the final three months of 2021 to become the fifth-biggest economy ⬇️ https://t.co/HT2xeFoIbr — Bloomberg UK September 2, 2022 “The UK’s decline down …

OECD says UK economy will slump to zero growth in 2023
2 years, 7 months ago

OECD says UK economy will slump to zero growth in 2023

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. “Countries worldwide are being hit by higher commodity prices, …

The government has to do all it can to help alleviate supply issues
3 years, 2 months ago

The government has to do all it can to help alleviate supply issues

The Independent  

The latest disruption to hit the UK is container ships – full of toys and other Christmas-related goods – being diverted away from Felixstowe to dock on the continent because there is no storage space left. For example, if the lorry-driver shortage is ameliorated by attracting workers from similar occupations, then that will merely lead to fresh problems elsewhere – …

Opinion: Why Britain must look beyond the US for trade deals
3 years, 11 months ago

Opinion: Why Britain must look beyond the US for trade deals

CNN  

Editor’s Note: Lord Jonathan Marland is chairman of the Commonwealth Enterprise and Investment Council and served as the prime minister’s trade envoy and minister for energy, climate change and business under David Cameron. The landmark UK-EU trade deal worth £660 billion, according to Johnson, just passed through UK Parliament and comes as welcome relief to economies on both sides of …

Brexit: No deal with EU worse for UK economy than Covid-19, says Bank of England governor
4 years, 1 month ago

Brexit: No deal with EU worse for UK economy than Covid-19, says Bank of England governor

CNN  

London CNN Business — Bank of England Governor Andrew Bailey has warned that failing to secure a new trade deal with the European Union would do more damage to the UK economy over the long run than the coronavirus pandemic. “I think the long-term effects … would be larger than the long-term effects of Covid,” Bailey said Monday in response …

British economy nosedives 20% in worst coronavirus-induced recession among Group of 7
4 years, 4 months ago

British economy nosedives 20% in worst coronavirus-induced recession among Group of 7

LA Times  

Britain has suffered the deepest recession among the world’s top economies this year, shrinking by a fifth in the second quarter alone when much of the economy was mothballed as part of efforts to contain the COVID-19 pandemic. Canada and Japan, the remaining members of the Group of Seven leading industrial nations, have yet to publish their second-quarter numbers, but …

UK recession is worst of any major economy
4 years, 4 months ago

UK recession is worst of any major economy

CNN  

London CNN Business — UK economic output shrank by 20.4% in the second quarter of 2020, the worst quarterly slump on record, pushing the country into the deepest recession of any major global economy. But while there are difficult choices to be made ahead, we will get through this, and I can assure people that nobody will be left without …

UK economy shrinks for first time since 2012. Brexit could tip it into recession
5 years, 5 months ago

UK economy shrinks for first time since 2012. Brexit could tip it into recession

CNN  

London CNN Business — The UK economy is shrinking for the first time in nearly seven years. “The often-dominant service sector delivered virtually no growth at all,” said Rob Kent Smith, head of national accounts at the Office for National Statistics. “Contraction in the second quarter is a rude awakening,” said Tej Parikh, chief economist at the Institute of Directors, …

Recession looms if UK leaves Europe without Brexit deal
5 years, 5 months ago

Recession looms if UK leaves Europe without Brexit deal

CNN  

London CNN Business — Leaving the European Union later this year without a Brexit deal would plunge the United Kingdom into recession. The UK Office of Budget Responsibility warned Thursday that “heightened uncertainty and declining confidence” would deter investment while higher trade barriers would slam exports. “The report that the OBR have published … shows that even in the most …

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