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Tag Archives: SHRINK

UK only major economy to shrink in 2023 – IMF

The UK economy will shrink and perform worse than other advanced economies as the cost of living continues to hit households, the International Monetary Fund (IMF) has said. The IMF said the economy will contract by 0.6% in 2023, rather than grow slightly as previously predicted. However, the IMF also …

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UK economy shrank 9.9% in 2020

The UK economy shrank by a record 9.9% last year as coronavirus restrictions hit output, the Office for National Statistics (ONS) says. The contraction in 2020 “was more than twice as much as the previous largest annual fall on record,” said ONS deputy national statistician Jonathan Athow. In December, the …

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