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  • Economy in brief: November 2023

Economy in brief: November 2023

Anna Leach Deputy Chief Economist, CBI

Your November guide to the UK economy, giving you a monthly overview of the major trends impacting the UK's main business sectors.

07 Nov 2023, 3 min read

Bank predicts flatlining economy amidst sticky inflation

Although we were relieved that rates were held in the November MPC meeting, there was otherwise little optimism from the Bank of England. The Bank expects GDP will be flat over the rest of 2023 and all of 2024 (0% – well below average consensus expectations for 0.5%) – before growing at only a feeble rate in both 2025 (0.3%) and 2026 (0.8%). Despite weaker growth expected than previously predicted, inflation was revised higher, with

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