Britain may this year fail to achieve even the tepid growth rates recently predicted by the government’s official economic forecaster, the IMF suggested on Tuesday as it downgraded UK growth estimates.
UK gross domestic product is tipped to grow by just 0.5 per cent this year in the IMF’s latest World Economic Outlook, 0.1 point slower than its January prediction.
The forecast is the second-slowest growth rate after Germany among G7 countries and lower than the 0.8 per cent predicted by the Office for Budget Responsibility in March.
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