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: 30.11.2025 Expectation: 800 pips
Selling AUDCAD from technical resistance
Today at 11:55 AM 2
Period: 05.11.2025 Expectation: 1050 pips
EURUSD corrects ahead of key Fed decision
Today at 11:51 AM 3
Period: 31.10.2025 Expectation: 1100 pips
EURUSD selloff if Fed keeps rates unchanged
Today at 11:07 AM 5
Period: 05.11.2025 Expectation: 1150 pips
USDCAD stops declining ahead of central bank monetary decisions
Today at 07:36 AM 16
Period: 04.11.2025 Expectation: 40000 pips
Buying BTCUSD amid technical correction within current uptrend
Yesterday at 11:50 AM 58
Brent sell
Period: 30.11.2025 Expectation: 100 pips
Selling Brent crude with target of $63 per barrel
Yesterday at 10:20 AM 41
Go to forecasts