The United Kingdom will not, after all, be the worst-performing rich economy this year, the International Monetary Fund (IMF) said Tuesday, announcing a major revision to its previous gloomy forecast.
The Washington-based organization said it now expects the UK economy to grow 0.4% in 2023, upgrading its April forecast by a whopping 0.7 percentage points.
The forecast reflected “higher-than-expected” resilience in demand helped by strong wage growth, improved confidence and falling energy prices, the IMF added.
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