Quarterly economic growth is expected to grind to a halt this year before dipping briefly into negative territory as global events continue to weigh heavily on the UK economy.
UK Economic Outlook – 2022 The British Chambers of Commerce has downgraded its expectations for UK GDP growth for 2022 to 3.5% (from 3.6%) against a deteriorating economic outlook. It now expects the UK inflation rate to reach 10% in Q4 2022, comfortably outpacing average earnings growth. The heightened economic uncertainty and rising costs are also…