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: 01.10.2026 Expectation: 4750 pips
Sell silver amid Fed’s hawkish stance
Yesterday at 10:32 AM 32
Period: 14.09.2026 Expectation: 135 pips
Buy SPX on strong tech reports
Yesterday at 06:28 AM 30
Period: 28.09.2026 Expectation: 4000 pips
Buy USDCAD while US inflation remains sticky
28 August 2026 61
Period: 11.08.2026 Expectation: 740 pips
Go long on Brent crude up to $95
28 August 2026 57
Period: 27.09.2026 Expectation: 4650 pips
Invest in USDJPY up to its all-time high of 164.00
27 August 2026 58
Period: 30.09.2026 Expectation: 500 pips
Sell ​​GBPUSD down to 1.3540
27 August 2026 39
Go to forecasts