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: 07.09.2026 Expectation: 3000 pips
Selling GBPUSD on dollar's fundamental edge
Today at 09:59 AM 22
Period: 14.08.2026 Expectation: 600 pips
Go long on EURUSD on weak US jobs data
Today at 09:00 AM 21
Period: 14.08.2026 Expectation: 600 pips
Invest in Brent crude with $88.50 target
Today at 08:36 AM 24
Period: 06.09.2026 Expectation: 6000 pips
Buy USDJPY with 164.00 in view
Yesterday at 11:31 AM 51
Period: 06.09.2026 Expectation: 200 pips
Go short on ETHUSD with $1,700 target
Yesterday at 09:44 AM 34
Period: 31.12.2026 Expectation: 13000 pips
Invest in silver up to $75.00
Yesterday at 06:46 AM 36
Go to forecasts