OECD downgrades UK's Growth Forecast making it the weakest of the G7 countries


The Parisian based think thank the Organisation for Economic Co-operation and Development, today released it's predictions for the UK's growth. It forecast Britain's economic growth to drop from 1.5% in 2017 to 1.2% in 2018 and 1.1% in 2019.

The OECD’s forecast for 2018 and 2019 is well below the downgraded estimate issued by the Office for Budget Responsibility alongside chancellor Philip Hammond’s Budget last week, and highlights how the organisation believes Brexit will weigh heavily on Britain’s economic performance.

The OECD's report published in September put Britain at just 1% in 2019, the rise is attributed to the interim deal that is currently being negotiated. In today's report, Britain leaving the EU is described as a significant risk for economic prospects in Germany, Ireland, Latvia, the Netherlands, South Africa and Spain. 

Figures for the global growth in the OECD report are 3.6% this year and 3.7% in 2018, putting the UK well behind the global level led by China and India. 

José Angel Gurría, the OECD general secretary, said: “Growth has picked up momentum and the short-term outlook is positive, but there are still clear weaknesses and vulnerabilities.

“There is a need to focus structural and fiscal action on boosting long-term potential as monetary policy support is reduced. Countries should implement reform packages that catalyse the private sector to promote productivity, higher wages and more inclusive growth.”

EDAS on Twitter

10 Fordyce Way

Tel: +44 (0)7801 354591

Mailing List Sign Up

Sign up to The Royal Dornoch Golf Hotel email mailing list to receive all the latset Short Breaks, Golf Packages, and Special Offers.

Sign up today!

Choose your Language

Best Rate Guarantee · Book Direct

All our rooms can be booked online DIRECT via our website & we will always offer a BEST RATE GUARANTEE if you book through our site.

Secure Online Booking via our booking engine.

Tripadvisor Awards Scottish Tourist Board 4 Star Hotel

Book your room

Book Restaurant

Restaurant Awards

The Royal Golf Hotel has won the Taste our Best Award for 2015/2016.

Tast our Best Award 2015/2016

Planning something special? Want to let us know about an allergy? Just let us know.

Your contact details

The hotel will confirm your booking within 24hrs but if you do not receive confirmation please call the Royal Golf Hotel on 01862 810283.