Britain faces bleakest two years of any major industrial country, IMF warns 

UK Prime Minister Rishi Sunak. The UK will be the only Group of Seven member whose economy will shrink this year.

Britain faces the bleakest two years of any major industrial country with a recession in 2023 and the slowest growth of peers in 2024, the IMF predicts.

The UK will be the only Group of Seven member whose economy will shrink this year, with a contraction of 0.6%, the IMF said. That makes Britain’s outlook even worse than sanctions-hit Russia, which is expected to expand by 0.3% after contracting 2.2% in 2022.