In its 2023 macro outlook, Goldman Sachs predicts that the UK’s real gross domestic product (GDP) will shrink by 1.2% in 2023, far below the growth rate of other major economies in the Group of Ten (G10). -1.2% growth puts the UK only marginally ahead of Russia. Goldman Sachs expects Russia’s economy to shrink 1.3 percent this year and grow 1.8 percent in 2024 as Russia continues to grapple with the conflict with Ukraine and economic sanctions from Western powers. The Wall Street giant also forecasts that Germany will be the worst-performing major economy after Russia and the UK, with a contraction of 0.6% this year and growth of 1.4% next year. | Related reading (interface)
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