Market updates and forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

The UK may face the most serious recession among all G7 countries


January, 04 2023
watermark Economic news

Economists assume that the UK in 2023 will face the most severe recession in the economy compared to other countries of the «Big Seven». At the same time, this decline will be felt much worse than the economic consequences of the pandemic in 2020.


In their opinion, the inflationary shock caused by the pandemic and the special military operation in Ukraine will persist in Britain longer than in other countries. The fact is that the Bank of England is likely to maintain high interest rates, and the government of the country will continue to pursue a tougher fiscal policy.


According to analysts, the UK's GDP, which has already begun to decline, will continue to fall in 2023. As a result, the indicator of economic growth may decrease by 1%, while the US GDP will increase by 0.25%.


Recall that the Bank of England raised the rate by 50 basis points — from 3% to 3.5%. The regulator also said that the economy of the United Kingdom has entered a recession, which is expected to last all of 2023 and the first half of 2024. Annual inflation in the UK by the end of November 2022 was 10.7%.


Feedback

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.