IMF confirms forecast for UK growth The UK economy will grow by 0.4% this year, the International Monetary Fund has predicted, confirming a forecast made in May and marking a significant upgrade on the 0.3% contraction it predicted in April. The IMF said the UK’s improvement reflected “stronger-than-expected consumption and investment from the confidence effects of falling energy prices”. The Fund added that said Windsor Framework improved trade between Northern Ireland and Great Britain while the financial sector proved resilient in the wake of the collapse of Silicon Valley Bank in the US and Credit Suisse in Switzerland. The UK will outperform Germany, which is expected to suffer a 0.3% contraction this year, a downgrade on the 0.1% drop previously forecast. This means Germany is now expected to be the worst performing major economy in the world this year.