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
Brent sell
Period: 03.07.2026 Expectation: 500 pips
Higher supply and weaker demand is likely to push Brent into red zone by weekend
Today at 08:09 AM 3
Period: 26.07.2026 Expectation: 3100 pips
Invest in USDCAD up to 1.45000
Today at 07:22 AM 5
Period: 02.07.2026 Expectation: 19500 pips
Selling ETHUSD with $1,585 in view following short-lived recovery
Yesterday at 11:10 AM 33
Period: 31.07.2026 Expectation: 220 pips
Buying AUDCAD up to 0.9837
Yesterday at 09:57 AM 13
Gold sell
Period: 09.07.2026 Expectation: 7500 pips
Gold sell-off targets $3,900
Yesterday at 09:37 AM 20
Period: 25.07.2026 Expectation: 125 pips
Invest in SPX after modest correction and exit from overbought territory
Yesterday at 09:06 AM 19
Go to forecasts