17 October 2022 | Other

Goldman Sachs predicts aggravating UK recession in 2023

As an updated analysis by Goldman Sachs says, Great Britain is likely to enter a deeper recession next year. Inflation, along with interest rates, would be below market expectations. 

The U.S. largest investment bank lowered its forecast for the United Kingdom, based on the analysis released Sunday. The country's economy will contract by 1% in 2023, despite previous estimates of 0.4%.

As voiced by a recent analysis: “Given the reduced growth rate, tighter financial conditions and a corporate tax increase (starting next April), we have lowered our expectations, thereby forecasting higher recession risks."

Goldman Sachs experts noted interest rates to hit the peak of 4.75%. These indicators are below the earlier outlook of 5%.

Deloitte's accountants also conducted their own survey, showing that British companies expect rising interest rates to make it more difficult to overcome the sales downturn and economic recession in 2023.

Company MarketCheese
Period: 31.05.2026 Expectation: 4000 pips
EURUSD selloff targets 1.12000
Today at 10:16 AM 15
Period: 01.04.2026 Expectation: 130 pips
Warm weather sends natural gas tumbling toward November lows
Today at 09:41 AM 20
Period: 30.04.2026 Expectation: 2000 pips
Buying NVIDIA stock from support level
Today at 08:44 AM 24
Period: 01.04.2026 Expectation: 830 pips
USDCAD attempts to breach upper limit of ascending channel amid geopolitical fog
Today at 06:54 AM 17
Period: 30.04.2026 Expectation: 300 pips
Selling Tesla stock down to $350
Yesterday at 11:50 AM 32
Brent sell
Period: 31.03.2026 Expectation: 1300 pips
Selling Brent crude with $93.00 in view as bearish pressure builds
Yesterday at 11:11 AM 38
Go to forecasts