As the United Kingdom marks the third anniversary of its formal departure from the European Union, its overarching economic narrative is one of doom and gloom. But there are some promising early signs that the country could be moving toward the kind of regional rebalancing that it needs.
LONDON – As if conditions weren’t gloomy enough in the United Kingdom, the International Monetary Fund recently downgraded the country’s growth forecast even as it offered a brighter outlook for the rest of the world. This was an odd and rather audacious move. While the UK certainly faces challenges, it is not clear that they have become any more difficult since the IMF released its last forecast in October 2022. If anything, a stronger global economy should benefit the UK, too.
LONDON – As if conditions weren’t gloomy enough in the United Kingdom, the International Monetary Fund recently downgraded the country’s growth forecast even as it offered a brighter outlook for the rest of the world. This was an odd and rather audacious move. While the UK certainly faces challenges, it is not clear that they have become any more difficult since the IMF released its last forecast in October 2022. If anything, a stronger global economy should benefit the UK, too.