UK Economy Will Stagnate Next Year, OECD Predicts

UK Economy Will Stagnate Next Year, OECD Predicts
Coins and credit cards on a table in this undated photo. Dominic Lipinski/PA
Alexander Zhang
Updated:

The UK’s economy is growing more slowly than expected in 2022 and will grind to a halt next year, the Organisation for Economic Co-operation and Development (OECD) has predicted.

The international organisation projected that UK GDP (gross domestic product) will grow by 3.64 percent this year, a significant downgrade from the 4.75 percent growth it forecast in December 2021.