The economy will fall into recession before the end of the year, with inflation rising to 14%, according to a new report from the British Chambers of Commerce.
The British Chambers of Commerce has downgraded its outlook for the rise in British GDP to 3.3% in 2022, down from 3.5% three months ago.
It said Britain would enter a recession by the third quarter of this year, with GDP expected to have contracted in the second, third and fourth quarters.
It expects the weakness in the economy to continue into 2024.
