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The Guardian - UK
The Guardian - UK
Business
Mark Sweney and Larry Elliott

Economic growth to pick up but risks to recovery ‘elevated’, say UK forecasts

Person cycling past Bank of England.
The Bank of England expected to raise the base interest rate three more times this year to tame inflation. Photograph: Neil Hall/EPA

Britain will be left with deep scars from the pandemic despite narrowly escaping a second recession within three years and growing signs of an economic pick up, according to new forecasts.

A new report by the accountancy firm KPMG has found that the economy has enjoyed a better start to the year than it had thought, and is now expected to grow by 0.3% this year, compared with its previous prediction of an uplift of just 0.1%.

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