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: 09.07.2026 Expectation: 3200 pips
Buy Tesla stock with $450 in sight on EU demand revival
Today at 09:16 AM 6
Period: 09.07.2026 Expectation: 550 pips
Selling AUDUSD with 0.68350 target amid lower expectations of RBA rate hike
Today at 06:48 AM 22
Period: 01.08.2026 Expectation: 3000 pips
Invest in USDCAD after updating yearly highs
Yesterday at 10:51 AM 35
Period: 15.07.2026 Expectation: 210 pips
Sell natural gas on cooler US weather outlook
Yesterday at 10:33 AM 19
Period: 08.07.2026 Expectation: 1000 pips
EURUSD exhausts its recovery potential after recent rebound
Yesterday at 08:23 AM 30
Period: 08.07.2026 Expectation: 1500 pips
NVIDIA stocks poised to test fresh lows as investors unwind their positions
Yesterday at 05:48 AM 19
Go to forecasts