British media: Britain faces worst recession in G7 countries in 2023
China News Service, January 3 According to the UK’s “Financial Times” quoting leading UK economists on the 3rd, compared to other G7 countries, the UK will face the worst economic downturn in 2023.
According to reports, in the “Financial Times” annual survey of 101 top economists in the UK, the vast majority of economists said that the inflationary shock caused by the new corona epidemic and the situation in Russia and Ukraine will last longer in the UK compared to in other countries The country is longer. They believe this will force the Bank of England to keep interest rates high and force the government to “implement tighter fiscal policy”.
Meanwhile, economists expect Britain to face the worst recession and weakest recovery among Group of Seven nations, as households will pay a high price for government policy missteps.
Economists estimate that UK GDP, which has already started to decline, will continue to decline in 2023. According to Consensus Economics, UK GDP will fall by 1%, while US GDP will grow by 0.25%. .
John Philpot, an independent UK labor market economist, said: “The recession in 2023 will be worse than the economic impact of the new corona epidemic.” A hard, dark, demanding, miserable and terrible year.”
