IMF downgrades UK growth forecast for 2017

The International Monetary Fund (IMF) has downgraded the UK's growth forecast for 2017 from 2% to 1.7%.

24 Jul 2017

The International Monetary Fund (IMF) has downgraded the UK’s growth forecast for 2017 from 2% to 1.7%.

It attributed the downgrade to the UK’s weaker-than-expected economic performance in the first three months of this year.

However, growth forecasts for France, Germany, Italy and Spain have been revised upwards.

The latest IMF forecast is just below the Bank of England’s: the Bank predicts that the UK economy will grow by 1.9% this year.

Meanwhile, UK growth forecasts for 2018 remain unchanged at 1.5%, the IMF revealed. Global economic predictions for next year also remain the same, with the IMF anticipating global growth of 3.6%.

Commenting on the downgrade, a Treasury spokesperson said: ‘This forecast underscores exactly why our plans to increase productivity and ensure we get the very best deal with the EU are vitally important.

‘We will continue to deliver greater prosperity and higher living standards for hard working people across the country.’

Quick Links

Home | Contact us | Accessibility | Disclaimer | Help | Site map |

© 2018 Blue Spire Limited. All rights reserved.

We use cookies on this website, you can find more information about cookies here.

Contact Chichester Office

Tel: +44 (0)1243 781234
Fax: +44 (0)1243 791770
Email: chichester@bluespiregroup.com


Contact Brighton Office

Tel: +44 (0)1273 739533
Fax: +44 (0)1273 732844
Email: brighton@bluespiregroup.com

Chichester Address
Cawley Priory, South Pallant, Chichester, West Sussex PO19 1SY

Brighton Address
5th Floor Intergen House, 65-67 Western Road, Hove, East Sussex BN3 2JQ

Blue Spire Limited is Registered to carry out audit work in the UK and Ireland and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales C004152645. Professional indemnity insurance is provided by Royal & Sun Alliance Insurance Plc 9th Floor, One Plantation Place, 30 Fenchurch Street, London, EC3M 3BD and its territorial coverage is worldwide (excluding United States/Canada).
Blue Spire Financial Planning Limited is authorised and regulated by the Financial Conduct Authority. FSA register https://www.fca.org.uk/register reference 566257. This guidance and/or advice contained within this website is subject to the UK regulatory regime, and is therefore targeted at customers based in the UK