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According to economists, Great Britain expects a particularly long crisis

2023-01-03T15:35:14.121Z


“Hard”, “gloomy” or “terrible”: forecasts by more than 100 economists for Great Britain are pessimistic. High inflation and weak growth will therefore follow the British longer than other industrialized nations.


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Signpost to Leeds food panel: Tough times for those on low incomes or high in debt

Photo: Christopher Furlong/Getty Images

Experts anticipate a more severe and longer economic crisis in Great Britain than in comparable countries.

A clear majority (77 percent) of more than 100 UK economists expect UK inflation to stay above target for longer than peers like the G7.

This is the result of a recent survey conducted by the »Financial Times« among leading economic experts.

82 percent of those surveyed tend not to assume or not at all that the British economy will grow faster than in other countries.

"Britain is suffering from an energy shock as bad as the rest of Europe, an inflation problem as big as the US and a unique skills shortage from Brexit and the health services crisis," said economist Ricardo Reis of the London School of Economics, according to the newspaper.

Other economists have described the prospects for Britons with lower incomes or poor debt as 'tough', 'bleak', 'miserable' or 'awful'.

The market research institute Consensus Economics, which has evaluated various growth forecasts, expects the gross domestic product in Great Britain to shrink by one percent in the current year, while growth of 0.1 percent is expected for the euro zone and 0.25 percent for the USA.

dab/dpa

Source: spiegel

All business articles on 2023-01-03

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