CBI responds to latest IMF global outlook report

Alpesh Paleja, CBI Lead Economist, said:

“The news that the IMF have revised up prospects for UK growth is to be welcomed - as with our own economic forecast, they no longer expect a recession in 2023. However, the fact we are set to be near the bottom of the G7 league table underlines the continued challenges we face from high inflation, lower labour market participation, and weak productivity.

“Action on getting people back to work, seizing green growth opportunities, and supporting those most impacted by the cost-of-living crisis is essential to counter anemic growth and increase prosperity across the UK economy.”