{"id":114404,"date":"2023-05-24T07:35:35","date_gmt":"2023-05-24T04:35:35","guid":{"rendered":"https:\/\/tietopankki.crnet.fi\/fi\/news\/imf-says-uk-economy-to-grow-this-year-in-big-u-turn\/"},"modified":"2023-05-24T07:35:35","modified_gmt":"2023-05-24T04:35:35","slug":"imf-says-uk-economy-to-grow-this-year-in-big-u-turn","status":"publish","type":"post","link":"https:\/\/tietopankki.crnet.fi\/fi\/news\/imf-says-uk-economy-to-grow-this-year-in-big-u-turn\/","title":{"rendered":"IMF says UK economy to grow this year in big U-turn"},"content":{"rendered":"<div class=\"mp_wrapper\">\n  <div class=\"mepr-unauthorized-message\">\n    <p>You are unauthorized to view this page.<\/p>\n  <\/div>\n  <div class=\"mepr-login-form-wrap\">\n            \n<div class=\"mp_wrapper mp_login_form\">\n                  <!-- mp-login-form-start -->     <form name=\"mepr_loginform\" id=\"mepr_loginform\" class=\"mepr-form\" action=\"https:\/\/tietopankki.crnet.fi\/fi\/login-2\/\" method=\"post\">\n            <div class=\"mp-form-row mepr_username\">\n        <div class=\"mp-form-label\">\n                              <label for=\"user_login\">Username<\/label>\n        <\/div>\n        <input type=\"text\" name=\"log\" id=\"user_login\" value=\"\" \/>\n      <\/div>\n      <div class=\"mp-form-row mepr_password\">\n        <div class=\"mp-form-label\">\n          <label for=\"user_pass\">Password<\/label>\n          <div class=\"mp-hide-pw\">\n            <input type=\"password\" name=\"pwd\" id=\"user_pass\" value=\"\" \/>\n            <button type=\"button\" class=\"button mp-hide-pw hide-if-no-js\" data-toggle=\"0\" aria-label=\"Show password\">\n              <span class=\"dashicons dashicons-visibility\" aria-hidden=\"true\"><\/span>\n            <\/button>\n          <\/div>\n        <\/div>\n      <\/div>\n            <div>\n        <label><input name=\"rememberme\" type=\"checkbox\" id=\"rememberme\" value=\"forever\" \/> Remember Me<\/label>\n      <\/div>\n      <div class=\"mp-spacer\">&nbsp;<\/div>\n      <div class=\"submit\">\n        <input type=\"submit\" name=\"wp-submit\" id=\"wp-submit\" class=\"button-primary mepr-share-button \" value=\"Log In\" \/>\n        <input type=\"hidden\" name=\"redirect_to\" value=\"\/fi\/wp-json\/wp\/v2\/posts\/114404\" \/>\n        <input type=\"hidden\" name=\"mepr_process_login_form\" value=\"true\" \/>\n        <input type=\"hidden\" name=\"mepr_is_login_page\" value=\"false\" \/>\n      <\/div>\n    <\/form>\n    <div class=\"mp-spacer\">&nbsp;<\/div>\n    <div class=\"mepr-login-actions\">\n        <a\n          href=\"https:\/\/tietopankki.crnet.fi\/fi\/login-2\/?action=forgot_password\"\n          title=\"Click here to reset your password\"\n        >\n          Forgot Password        <\/a>\n    <\/div>\n\n      \n    <!-- mp-login-form-end --> \n  <\/div>\n      <\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<div class=\"smart_content_wrapper\">\n<p>The IMF on Tuesday delivered a major U-turn on its forecast for the UK economy, saying it expected growth this year, just one month after predicting a contraction. Britain\u2019s economy is now predicted to expand by 0.4 percent, the International Monetary Fund said in its latest outlook document which partly cited weaker energy prices. The institution ripped up its previous forecast in April of a 0.3-percent contraction.<\/p>\n<p>But there had still been a \u201csignificant\u201d slowdown from 2022, when the economy grew 4.1 percent despite sky-high inflation and energy bills owing to the Ukraine war. \u201cBuoyed by resilient demand in the context of declining energy prices, the UK economy is expected to avoid a recession and maintain positive growth in 2023,\u201d it added in Tuesday\u2019s statement. \u201cStill, economic activity has slowed significantly from last year and inflation remains stubbornly high following the severe terms-of-trade shock due to Russia\u2019s war in Ukraine and, to some extent, labour supply scarring from the pandemic.\u201d It also cautioned that this year\u2019s growth outlook remains \u201csubdued\u201d.<\/p>\n<p>The IMF said the 2023 upgrade reflected \u201chigher-than-expected resilience\u201d in both demand and supply, alongside improved confidence in reduced post-Brexit uncertainty as well as lower energy costs. Britain\u2019s Conservative government welcomed the news, with finance minister Jeremy Hunt declaring that the \u201cbig upgrade\u201d credits the government\u2019s \u201caction to restore stability and tame inflation\u201d. He added: \u201cIf we stick to the plan, the IMF confirm our long-term growth prospects are stronger than in Germany, France and Italy\u2026but the job is not done yet.\u201d GDP is expected to grow by 1.0 percent in 2024, unchanged from the IMF\u2019s prior guidance.<\/p>\n<p>The news comes after the Bank of England forecast earlier this month that the UK economy would avoid recession this year despite the country\u2019s annual inflation stuck above 10 percent. Britain is due to publish its official April inflation data on Wednesday.<\/p>\n<p>Source: <a rel=\"noopener\" href=\"https:\/\/www.digitaljournal.com\/business\/imf-says-uk-economy-to-grow-this-year-in-big-u-turn\/article\">DJ<\/a> <\/div>\n<p>The post <a rel=\"noopener\" href=\"https:\/\/vastuullisuusuutiset.fi\/fi\/csr-news-en\/imf-says-uk-economy-to-grow-this-year-in-big-u-turn\/\">IMF says UK economy to grow this year in big U-turn<\/a> appeared first on <a rel=\"noopener\" href=\"https:\/\/vastuullisuusuutiset.fi\/fi\">Vastuullisuusuutiset.fi<\/a>.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22],"tags":[555,1052,3499,1778,579],"class_list":["post-114404","post","type-post","status-publish","format-standard","hentry","category-news","tag-csr-news-en","tag-economy","tag-grow","tag-imf","tag-uk"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/posts\/114404","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/comments?post=114404"}],"version-history":[{"count":0,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/posts\/114404\/revisions"}],"wp:attachment":[{"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/media?parent=114404"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/categories?post=114404"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/tags?post=114404"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}