The IMF have produced their July update world economic outlook
with a strong global forecast.
Predictions have however been downgraded for growth in the UK
economy. This was due to "weaker-than-expected activity"
in the first quarter of the year, with predicted growth for 2017
adjusted from 2% to 1.7%. 2018 UK growth remains at 1.8%, as the
IMF view the UK's fundamentals as strong. They did however warn
that a breakdown in Brexit negotiations could threaten stable
growth.
We continue to monitor the UK closely, taking into consideration
any movements in its political and economic landscape. This forms a
key objective of our strategic review and which was reinforced
recently by the Government of Jersey's Brexit Update.
