The UK is “not as wealthy a nation as it thought it would have been in 2020”, Sky’s economics and data editor Ed Conway has said.
Analysing the country’s financial situation, Ed said that before the pandemic GDP was expected to rise but then when the pandemic hit there was a “massive fall down”.
He went on to say the Bank of England forecast’s were now flatlining.
“There’s a lot of other things going on right now. The dollar has been very strong recently as well,” he adds.
“But even so, these charts, whether it’s the pound, whether it’s government bond yields, are the kinds of things that the government is going to be paying attention to.”
He adds that looking at the latest charts helps explain why the UK will most likely receive a “miserable” update from the chancellor today.
Source: BBC.com