In economics, as in much of life, everything is relative. The latest forecasts from the IMF for the world economy – as well as for British prospects in particular – are of the “glass half full” variety.
In global terms, the position over the next few years will most likely not be as bad as the International Monetary Fund had thought in its spring forecast, or in its summer updates. That’s principally because Donald Trump’s new tariffs are neither as high as expected, nor have they triggered a much more powerful global wave of protectionism.
