off-the-wire

JPM raises forecast for UK's 2023 GDP to 0.7%

Kitco Media
By Reuters
Published:
Updated:
Reuters

April 21 (Reuters) - J.P.Morgan on Friday raised its forecast for UK's full-year 2023 gross domestic product (GDP) to 0.7% from 0.5% earlier.

The revision reflects a higher growth expectation for the second quarter following a jump in Purchasing Mangers' Index (PMI) for April.

The bank now expects the economy to grow 1.3% in the current quarter, up from 0.6% expected previously.

Reporting by Roshan Abraham in Bengaluru; Editing by Shailesh Kuber
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