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17 October 2017
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IMF estimates UK's growth to be weaker than expected

25 July 17 - RE+D Magazine
IMF estimates UK's growth to be weaker than expected

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Antulio Richetta

Director IBI Group
Following "weaker-than-expected activity" in the first three months of the year, the UK's predicted growth for 2017 was adjusted from two per cent down to 1.7 per cent. According to cityam.com, the IMF also contrasted the UK's performance with that of various euro area countries.

 

Growth was above expectations in France, Germany, Italy and Spain, which all received slight upgrades in their forecasts.

The US was also downgraded from 2.3 per cent to 2.1 per cent. This was mainly attributed to the assumption that "fiscal policy will be less expansionary" than previously anticipated, and uncertainty over the timing of policy changes in the current climate. But the global economy was considered to be in a healthier shape.

Predictions of 3.5 per cent growth in 2017 and 3.6 per cent in 2018 remain unchanged.

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