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UK to avoid recession

Journalist: Jake Carter, Mortgage Introducer

ended 11. April 2023

The British Chambers of Commerce has revised its earlier forecast of 1.3%, and now expects growth to dip 0.3%. It cited falling energy prices, robust household spending and improved business confidence. 

Do you believe the economic outlook of the UK looks a better one now?

What are your expectations for the housing market in 2023?

Do you believe we are over the worst of it now?

2 responses from the Newspage community

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Editor
Samuel Mather-Holgate
Independent Financial Adviser at Mather and Murray Financial
The Treasury announced the UK will not fall into recession, and other business groups have fallen into line. The problem is, interest rates are still going up and demand in the economy is weak and falling. The British public has had to contend with high inflation, rising interest rates and the highest tax bill for 70 years. There will be a recession and it will be bad.
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Graham Cox
Director at Bridging Hub
Recent economic news has painted a rosier picture than looked likely just a few months ago. But, most of the economic pain has yet to be felt, namely for hundreds of thousands of homeowners looking to remortgage over the year ahead. This will suck huge amounts of cash out of the economy, causing inflation to fall sharply.