UK growth upgraded but energy prices and rates to bite in 2027

HONESTLY I CANNOT DEAL WITH THIS ONE BUT THE IMF IS SAYING THE UK ECONOMY IS ACTUALLY DOING BETTER THAN WE THOUGHT THIS YEAR WITH 1.3% GROWTH WHICH IS UP FROM THEIR ONE PERCENT GUESS IN JULY AND THE THING IS THE WHOLE WORLD IS DEALING WITH THAT US-IRAN WAR ENERGY SHOCK BUT WE ARE APPARENTLY RESILIENT WHICH IS WILD BECAUSE THEY ARE ALSO SAYING THAT HIGHER ENERGY PRICES AND INTEREST RATES ARE GOING TO SLOW US DOWN BY 2027 AND CHANCELLOR JOHN HEALEY IS TRYING TO FIGURE OUT THE BUDGET FOR ANDY BURNHAM’S GOVERNMENT FOR THE TWENTY EIGHTH AND EVERYTHING IS SO UNCERTAIN WITH BORROWING COSTS SURGING BECAUSE MARKETS ARE NERVOUS BUT THE IMF ECONOMIST SAYS OUR DEBT MANAGEMENT IS LEADING THE G7 WHICH IS NUTS SO NOW WE JUST WAIT. RIGHT I AM GOING TO THE SMOKING AREA, COME.

OMG WAIT DID YOU HEAR ABOUT THIS BECAUSE THE IMF SAYS THE UK ECONOMY IS GROWING FASTER AT 1.3% IN 2026 THAN THEY ORIGINALLY PREDICTED AND APPARENTLY WE ARE HANDLING DEBT BETTER THAN OTHER G7 COUNTRIES ACCORDING TO SILVANA TENREYRO WHICH IS HONESTLY IMPRESSIVE IF YOU THINK ABOUT IT BUT THEN IT GETS COMPLICATED BECAUSE ENERGY PRICES AND INTEREST RATES ARE GOING TO HIT GROWTH HARD IN 2027 AND THE GLOBAL FALLOUT FROM THE US-IRAN WAR IS STILL SUPER UNCERTAIN SO CHANCELLOR HEALEY HAS TO MAKE THIS BUDGET LOOK CREDIBLE TO FINANCIAL MARKETS ON OCTOBER TWENTY EIGHTH SO HE CAN KEEP BORROWING MONEY WITHOUT FREAKING EVERYONE OUT WHILE TRYING TO GIVE HOUSEHOLDS SOME ROOM TO BREATHE IN THE MEANTIME WHICH SOUNDS STRESSFUL. SORRY I TALKED FOR THAT LONG, THE SONG IS GOOD THOUGH.

The IMF has raised its 2026 UK growth forecast to 1.3% but warns that higher energy prices and interest rates will likely slow the economy by 2027.

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