IMF warned UK and Germany to be G7's laggards in 2023

Posted on July 31, 2023   |  

In 2023, Britain will see the 2nd weakest growth in the hold of rich countries, which is surpassed by Germany, which will be the only advanced economy to contract.

UK output will grow by 0.4%, a 0.7% point upgrade from its last set of full forecasts back in April.

UK's growth rate to drop from 4.1% to 9.4% in 2023, then grow by 1% in 2024.

The German economy is poised to anchor the G7 growth league, falling by 0.3% in 2023.

America will lead the G7 growth table, growing by 1.8% in 2023.

Canada will come 2nd with 1.7%, Japan with 1.4%, Italy with 1.1%, and France with 0.8%, followed by Britain and Germany.