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Home What is the current state of the UK economy in 2022?
14 Jul 2022 By PAYCEC
The GDP is anticipated to grow by 3.6 percent in 2022 before leveling out in 2023. Due to ongoing labor and supply shortages, high energy prices, and other factors, inflation will continue to rise and reach a peak of over 10 percent at the end of 2022 before gradually dropping to 4.7 percent by the end of 2023. As household income is reduced by rising costs, private spending is anticipated to slow. Public investment will decline in 2022 as supply constraints make it difficult to implement planned investments, but it is expected to rebound in 2023 as these effects start to fade. A limited labor supply will keep unemployment rates low.
Disclaimer: The above information is from our research and opinion, you should read it for reference, and do not take it as an official source.
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