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UK economic growth will 'grind to a halt' and 10% inflation on the way, says British Chambers of Commerce
UK economic growth will "grind to a halt" this year before briefly falling into negative territory, according to the British Chambers of Commerce. The business group downgraded its 2022 growth forecast from 3.6% to 3.5%, and said inflation would reach 10% in the last quarter - far higher than average wage rises.Investment growth expectations have also been slashed for this year, from 3.5% to 1.8%, said the BCC report. The bleak outlook follows a warning from one of the world's leading economic authorities that Britain's growth next year will be worse than any G20 country except Russia. There will be no GDP expansion ... (full story)
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