The International Monetary Fund (IMF) has performed a quick U-turn on the UK’s growth outlook and now sees the economy expanding by 0.4% in 2023. In January this year, the IMF predicted that the UK economy would contract by 0.6% in 2023, while just last month they predicted that the UK would contract by 0.3%. The IMF’s newfound confidence is based on falling energy costs, improved business confidence, and robust domestic demand.
