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  • Economy in brief: February 2023

Economy in brief: February 2023

Anna Leach, Deputy Chief Economist, CBI

Your February guide to the UK economy.

06 Feb 2023, 3 min read

Bank of England upgrades outlook

The Bank’s forecast for growth this year is now in line with the CBI’s December forecast for a mild decline in activity this year. Market expectations for interest rates have shifted down since the mini-Budget and activity data for the UK so far this year has been a little better than expected.

The Bank now expects that the economy grew marginally over the last few months of 2022. It also seems more confident that headline inflation has pas

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