UK Forecasters See Stronger Growth and Less Risk of Recession
- Bloomberg survey and CBI both boost estimates for 2023 GDP
- Minority see rate rises and sticky inflation triggering slump
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UK economic forecasters are stepping away from their recession predictions after falling energy prices and stronger-than-expected spending helped to support growth in the first half of 2023.
Britain’s two biggest business lobby groups both are anticipating the economy will expand slightly this year, dodging two consecutive quarters of decline that they had previously expected. A Bloomberg survey of UK economists also shows the consensus for growth strengthening.