Why the UK economy should expect an improved economic outlook in 2023

Consumer and business resilience, alongside a dramatic fall in wholesale energy prices, enabled the UK economy to avoid a technical recession - defined as two consecutive quarters of declining GDP. In 2023, given a relatively buoyant set of recent economic indicators, we may also escape that fate again.

Register to watch on-demand, our latest webcast and hear our speakers explore why the economy is not out of the woods, yet. Inflation will remain high by previous years’ standards’, whilst energy prices and the war in Ukraine present future uncertainty. We think the Bank of England has raised interest rates as far as they’ll go in this cycle; however financial stresses in the global banking system, exposed by rapid monetary tightening could escalate and restrict the prospects for growth.

Topics discussed include:

• The EY ITEM Club Spring Forecast and implications for the UK’s economic recovery.
• An exploration of questions around growth expected in 2023 and if the UK economy can avoid entering recession.
• The risks to the UK economy and whether the tailwinds the economy appears to increasingly enjoy can prove sustainable.