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National Institute UK Economic Outlook Summer 2022

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Abstract

The UK economy is likely to enter recession in the third quarter of 2022 and remain there until the first quarter of 2023. Our forecast for year-on-year GDP growth is 3.5 per cent in 2022 and 0.5 per cent in 2023. Unemployment is expected to rise above 5 per cent over the coming twelve months as firms respond to the fall in aggregate demand.

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  • Niesr, 2022. "National Institute UK Economic Outlook Summer 2022," National Institute UK Economic Outlook, National Institute of Economic and Social Research, issue 7, pages 4-5.
    • Handle: RePEc:nsr:niesra:i:7:y:2022:p:4-5
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    File URL: https://www.niesr.ac.uk/wp-content/uploads/2022/08/NIESR-UK-Economic-Outlook-Summer-2022.pdf
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