Factors behind IMF’s latest forecast which shows UK will be only large economy to contract this year
The International Monetary Fund has warned that Britain is expected to be the only large industrialised country to face a shrinking economy this year.
The Washington-based fund upgraded its forecast for most leading economies but said it expected the UK economy to contract by 0.6% this year – a level 0.9 percentage points worse than that which it had pencilled in just three months ago, and slower even than that for sanctions-hit Russia.
