The UK recession will be almost as deep as that of Russia, economists predict
Publishing timestamp: 2023-01-04 08:08:01
Summary
Goldman Sachs forecasts a 1.2% contraction in the UK's real GDP in 2023, which is almost as deep as Russia's 1.3% contraction. This is due to a sharp fall in household living standards, higher inflation, and interest rates, as well as global headwinds from the war in Ukraine and Brexit.
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Keywords: business news, goldman sachs group inc, economy, central banking,