The UK economy forecast published by the International Monetary Fund (IMF) in October 2009 predicts that the country's economy will contract at a record rate (in at least 29 years) in 2009.
More specifically, the IMF predicts that the UK real GDP will contract at an average annual rate of 4.4% in 2009 after having increased by 0.7% in 2008 and 2.6% in 2007.
The UK economy is predicted to start slowly expanding in 2010 when real GDP is predicted to increase by 0.9%. As the graph below indicates, economic growth is expected to accelerate in 2011 and 2012 to 2.5% and 2.9%, respectively.
IMF's UK economy forecast predicts also that the inflation rate will be decreasing until 2011. As the graph below indicates, it is predicted that by 2011 inflation will decelerate to 1.4% from 3.6% in 2008, and rise back to 2% by 2013.
UK Economy Forecast 2009-2013
Sources: IMF,www.Property-Investing.Org
UK Inflation Forecast 2009-2013
Sources: IMF,www.Property-Investing.Org
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