HomeEconomic IndicatorDeutsche Bank predicts UK's GDP growth to reach 0.5% by 2023, according...

Deutsche Bank predicts UK’s GDP growth to reach 0.5% by 2023, according to Reuters.

Deutsche Bank Raises UK GDP Growth Forecast to 0.5%

Deutsche Bank Optimistic About UK Economic Recovery

Deutsche Bank has revised its 2023 economic growth forecast for the UK, increasing it from 0.3% to 0.5%. The bank is optimistic that the UK economy will avoid a recession next year. This positive outlook is based on expectations of a modest rebound in the last quarter of 2023, following a small contraction in the third quarter.

Sanjay Raja, Chief UK Economist, Shares Insights

Sanjay Raja, the Chief UK Economist at Deutsche Bank, believes that despite the challenges ahead, the UK economy will be able to navigate through and avoid a recession in 2024. Raja slightly adjusted his growth estimate for next year to 0.3% from 0.4%. He emphasizes the presence of sufficient tailwinds that will support the economy.

- Advertisement -

This revised outlook by Deutsche Bank provides a boost of confidence for the UK economy as it strives to recover and grow. The bank’s positive forecast indicates potential opportunities for businesses and individuals alike.

Must Read