I wouldnt pay too much attention to forecasts. BoE are likely to announce this week that rather than an eight quarter (two year !!!) recession we will only contract but half as much as they expected and for half as long. Their previous forecast…three months ago !
I think we’re now back above pre pandemic levels
Service sector main driver of growth in October, ONS says. Inflation and interest rates are due this week
www.morningstar.co.uk
…however, economies contracted and then subsequently grew at different levels and different times around pandemic. We grew most last year amongst G7 but had contracted more during (maybe partially due to us being so service reliant) just as we and others were due to kick on, the war started.
Im not saying everything’s rosey, it’s not, but it’s also maybe not as bad as the headlines and forecasts would suggest and if energy prices/inflation can come down and stay down, hopefully it will be better than forecasts indicate. There’s also too many variables (main one being war) to accurately forecast at the moment