13 June 2026
UK economic forecasts from the OECD and Chambers of Commerce
Two forecasts for the UK economy show sluggish growth on the back of the military action in the Middle East.
The latest Outlook on the global economy from the OECD forecast that the UK economy will continue to see flat growth, with rises in both inflation and unemployment in 2026. However, their expectation is that growth will improve from 0.9% to 1.1% next year and unemployment will decline slightly from 5.5 to 5.3%.
Similarly, the British Chambers of Commerce’s latest economic forecast is for growth to remain subdued this year, with only a slight rise to 1.0% next - with unemployment remaining high, especially for young people, driven by global uncertainty. However, they see things start to recover in 2028, with GDP up by 1.3%, unemployment down to 5.3% and inflation as low as 2.0%.
The latest Outlook on the global economy from the OECD forecast that the UK economy will continue to see flat growth, with rises in both inflation and unemployment in 2026. However, their expectation is that growth will improve from 0.9% to 1.1% next year and unemployment will decline slightly from 5.5 to 5.3%.
Similarly, the British Chambers of Commerce’s latest economic forecast is for growth to remain subdued this year, with only a slight rise to 1.0% next - with unemployment remaining high, especially for young people, driven by global uncertainty. However, they see things start to recover in 2028, with GDP up by 1.3%, unemployment down to 5.3% and inflation as low as 2.0%.
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