The UK will face one of the worst recessions and weakest recoveries in the G7 in the coming year, according to a survey of economists.
A clear majority of the 101 respondents in the FT’s annual poll of leading UK-based economists said the inflationary shock caused by the pandemic and the Ukraine war would persist for longer in the UK than elsewhere, forcing the Bank of England to keep interest rates high and the government to run a tight fiscal policy.
More than four-fifths expected the UK to lag its peers, with GDP already shrinking and set to do so for much or all of 2023.
