This is grim reading from the UK's Confederation of British Industry (CBI).

  • Forecasts GDP to contract 0.4% in 2023
  • Unemployment to peak at 5.0% in late 2023 and early 2024, up from 3.6% currently
  • "Britain is in stagflation - with rocketing inflation, negative growth, falling productivity and business investment. Firms see potential growth opportunities but ... headwinds are causing them to pause investing in 2023"
  • "We will see a lost decade of growth if action isn't taken. GDP is a simple multiplier of two factors: people and their productivity. But we don't have people we need, nor the productivity"

Via Reuters, more here

A couple of weekend Brexit reports coming up , this first via The Telegraph

Brexit closed free access to a 300mn people market, a sad headwind for UK industry and workers.