UK economy ‘will shrink for two years as eurozone and US grow’ - short news
Thinktank chief and former Bank MPC member gloomy about stubborn inflation and labour shortages
The UK economy will shrink this year and in 2024, according to a report by a leading US thinktank that said stubborn inflation and a shortage of workers would damage the prospects for growth more than most analysts expect.
The Washington-based Peterson Institute for International Economics (PIIE) said a drop in GDP this year of 0.3% would be followed by a fall of 0.2% next year while..
source: The Guardian - 26.09.2023