IMF Downgrades Growth Forecast
21st December 2017.
The IMF has cut its UK economic growth forecast, blaming Brexit uncertainty.
The International Monetary Fund (IMF) expects growth of 1.6 percent this year, down slightly from its previous forecast of 1.7 percent. It expects growth to slow further next year, to 1.5 percent.
IMF chief Christine Lagarde said uncertainty over the Brexit deal and rising inflation were causing UK firms to delay investment plans.
Ms Lagarde said that increased productivity was key to increasing living standards and that a new trade deal could help restore productivity levels in the UK.
She said: “The shape of the new agreement with the EU will affect productivity performance through its implications for trade, investment and migration.
Critics called the IMF forecast after the referendum too “gloomy”, and Brexit supporter and economist Ruth Lea paints a brighter picture. While Ms Lea acknowledges that incomes have become squeezed since the fall in Sterling, she also insists this has helped exports. .
Ms Lea, who is an economic adviser to the Arbuthnot Banking Group, also expects inflation to fall, which would help company and household finances.
The Credit Protection Association is a credit management company established in 1914. If you supply goods or services on credit then we can help you!
Keep up to date with the latest news by following us on social media:-
Watch the video to find out how CPA can help you!
Read our blog – Debt collection agency
Read our Cash Flow Advice
Read about our overdue account recovery service
Read our blog – What is credit management?
Read our blog -What is a credit management company?
Read our blog -Credit Management that works!
Read our blog – How to select a debt collection agency
click to see read about our successes
Please call us on 0330 053 9263 to discuss how CPA can help your cashflow. Alternatively, either email us or use our contact form.