Spring 2023 Economic Forum

NIESR is delighted to bring to you our latest Economic Forum where we present our forecast for the next economic quarter.

As King Charles III is officially crowned, and the Carolean era commences, this webinar explores what the future holds for the UK economy. Latest official figures confirm that inflation is falling, albeit at a slower pace than once predicted, and growth continues to remain sluggish.  Will the UK see growth this year or will the economy, as the IMF now predicts, contract? How fast will inflation fall, and what response can we expect from policymakers as a result?  Have interest rates peaked, or should mortgage-holders prepare for further rate rises?

Meanwhile there are signs that the tightness in the labour market may begin to slacken, with a decrease in vacancies and a slight rise in the unemployment rate.  How will this loosening affect wages? And what about labour supply?  Will the 50-64 year olds, driven by the continued cost-of-living crisis and change announced in the recent budget, return to the labour market, or not?

Globally, what is the outlook for growth across the world economies?  How have the banking failures in the United States affected central-bankers and policymakers, as they seek to control the persistent inflation across advanced economies without causing a banking crisis? What impact does the ongoing war in Ukraine continue to have on both consumer and business confidence?

These questions are just some of the ones that our expert commentators examine as part of our latest forecast, as we attempt to provide a greater insight into the key economic issues we face at the dawn of this new era.