High inflation, energy crisis and low productivity hinder recovery, says OECD
The UK will be the only economy in the G20 apart from Russia to shrink this year as high inflation, the energy crisis and low productivity hinder its recovery, according to a leading international institution.
The Organisation for Economic Co-operation and Development (OECD) said all major EU economies will expand in 2023 at a stronger pace than it had forecast last year, leaving Britain and Russia the only members of the G20 group of wealthy nations to suffer a decline.
