The International Monetary Fund (IMF) expects the UK economy to grow more slowly than all other Group of Seven (G-7) advanced economies, though it has upgraded its forecast for the country.
The latest IMF forecast shows that UK economic output is expected to contract by 0.3 percent this year before rebounding to grow by 1 percent next year.
It puts the UK firmly at the bottom in the G-7 this year. The only other economy that the IMF expects to decline is Germany, which is expected to contract by 0.1 percent.
But it is better than a previous IMF forecast, which predicted that the UK economy would shrink by 0.6 percent this year….