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Goldman Sachs downgraded forecast for UK economy - now expect a "significant recession"

Started by forex4you, Oct 17, 2022, 06:15 am

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Goldman Sachs downgraded forecast for UK economy - now expect a "significant recession"

<p>Goldman 2023 UK economic output forecast:</p><ul><li>expect a 1% contraction (the previous forecast was a 0.4% contraction)</li><li>GS adds that core inflation is expected at 3.1% at the end of 2023 (previously forecast 3.3%)</li><li>"Folding in weaker growth momentum, significantly tighter financial conditions, and the higher corporation tax from next April, we downgrade our UK growth outlook further and now expect a more significant recession"</li></ul><p>-</p><p>Meanwhile the political firestorm in the UK continues. There will be an attempt to remove new PM Truss this week. </p><p>GBP update:</p><p>Weekend news gave GBP a pop:</p><p><a href="https://www.forexlive.com/centralbank/bank-of-england-gov-bailey-says-the-next-interest-rate-hike-could-be-higher-than-expected-20221016/" target="_blank" data-article-link="true">Bank of England Gov Bailey says the next interest rate hike could be higher than expected</a></p>

                This article was written by Eamonn Sheridan at forexlive.com.

Source: Goldman Sachs downgraded forecast for UK economy - now expect a "significant recession"

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