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: 15.10.2026 Expectation: 1000 pips
Selling SPX down to $7,490
Today at 05:18 AM 14
Brent sell
Period: 15.10.2026 Expectation: 800 pips
Brent crude sell-off targets $95.80
Today at 05:18 AM 12
Gold sell
Period: 31.10.2026 Expectation: 18000 pips
Go short on gold upon breaking $4,300
Yesterday at 04:16 AM 32
Period: 11.10.2026 Expectation: 3200 pips
Going short on AUDUSD ahead of US Fed meeting
11 September 2026 62
Period: 30.09.2026 Expectation: 2000 pips
SPX sell-off targets $7,400
11 September 2026 48
Period: 25.09.2026 Expectation: 2800 pips
Buying Tesla stock with $390 in view
11 September 2026 71
Go to forecasts