China News Service, January 3 (Xinhua) According to the British "Financial Times" on the 3rd, citing leading British economists, the UK will face the worst economic recession in 2023 compared with other G7 countries.
According to reports, in the "Financial Times" annual survey of 101 leading economists in the UK, the vast majority of economists said that the inflation shock caused by the new crown epidemic and the situation in Russia and Ukraine will last longer in the UK than 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 the weakest recovery among the Group of Seven nations as households pay a high price for the government's policy missteps.
Economists estimate that UK GDP, which has already begun 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 crown epidemic." A tough, bleak, demanding, miserable and terrible year".