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: 31.10.2026 Expectation: 1700 pips
Selling EURUSD on fundamentally strong dollar
Today at 10:00 AM 12
Gold sell
Period: 31.10.2026 Expectation: 4000 pips
Go short on gold with $4,300 in mind
Yesterday at 04:54 AM 25
Period: 31.10.2026 Expectation: 100 pips
Buy Brent crude upon breaking $104.60
Yesterday at 04:54 AM 23
Period: 02.11.2026 Expectation: 1700 pips
GBPUSD sell-off targets 1.3200
22 September 2026 41
Period: 31.10.2026 Expectation: 300 pips
Buying AUDCAD with 1.0000 in sight
21 September 2026 45
Period: 31.10.2026 Expectation: 700 pips
Invest in USDJPY up to 157.70
21 September 2026 39
Go to forecasts