National Institute UK Economic Outlook Summer 2022

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National Institute UK Economic Outlook, 2022, issue 7, 4-5

Abstract: The UK economy is likely to enter recession in the third quarter of 2022 and remain there until the first quarter of 2023. Our forecast for year-on-year GDP growth is 3.5 per cent in 2022 and 0.5 per cent in 2023. Unemployment is expected to rise above 5 per cent over the coming twelve months as firms respond to the fall in aggregate demand.

Date: 2022
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