The UK is expected to be the second-slowest growing economy in the G7 this year, the International Monetary Fund has said, despite a major upgrade to the country's prospects.A new IMF forecast expects the UK's output to grow by 0.4% during 2023, faster than Germany, but slower than any other country in the Group of 7 (G7).It is an upgrade by 0.7 percentage points compared with the IMF's previous forecast. Consumption was stronger than expected and Brexit uncertainty had reduced, the IMF said.Gro

The UK is expected to be the second-slowest growing economy in the G7 this year, the International Monetary Fund has said, despite a major upgrade to the country's prospects.A new IMF forecast expects the UK's output to grow by 0.4% during 2023, faster than Germany, but slower than any other country in the Group of 7 (G7).It is an upgrade by 0.7 percentage points compared with the IMF's previous forecast. Consumption was stronger than expected and Brexit uncertainty had reduced, the IMF said.Growth in the US is expected to be the most rapid of all G7 countries at 1.8%, the IMF said on Tuesday.