IMF Executive Board completed the 2026 Article IV consultation on 16 July, praising UK resilience despite external shocks.
Real GDP rose 0.7 percent in the three months to May 2026, the sixth consecutive period of growth.
IMF concludes 2026 UK Article IV Consultation projecting 1.0 percent GDP growth for the year, revised up from 0.8 percent.
Sarah Breeden stated that the weak UK economic backdrop reduces the risk of inflation becoming sticky through wages and price-setting behaviour.
UK GDP rose 0.1 per cent in May after a 0.1 per cent fall in April, driven solely by 0.3 per cent services growth.
The OECD published its Economic Survey of the United Kingdom 2026 on 15 July, examining performance amid global uncertainties and structural constraints.
UK total retail sales rose 1.9% year on year in June 2026, slowing from 3.7% in May, with like-for-like growth of 1.7% missing expectations.
Shares in major UK housebuilders including Vistry, Barratt Redrow and Crest Nicholson have fallen to decade lows amid profit warnings and hedge fund short selling.
S&P Global survey shows UK private sector confidence at an 18-month low in June 2026
IMF July 2026 update forecasts UK GDP growth of 1.0% for 2026, a 0.2 point cut from April, and 1.3% for 2027.
The IMF now projects UK GDP growth of 1.0 per cent for 2026, an increase from its April forecast, placing Britain third in the G7 behind the United States and Canada.
