International investors may be jittery about the UK’s future, but the International Monetary Fund appears to be more optimistic. The IMF has published its World Economic Outlook report for January, which forecasts the UK will have the third-fastest growth in the G7 this year. It revises upwards its projection for 2025, by 0.1 per cent, to 1.6 per cent.
The UK falling in after the United States and Canada does not make good on Labour’s promise to be the fastest growing advanced economy. But after a tumultuous week of gilt fluctuations, bad growth figures and an even worse retail sales update, it’s a good way to be ending the week.
Today’s report is one of the more optimistic forecasts for UK growth, not far off the Office for Budget Responsibility’s latest estimate, delivered alongside Labour’s first Budget in October, which forecast the economy to grow by 2 per cent this year.
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