UK will be worst performer in G7 next year, OECD forecasts

UK constrained by high interest rates, price rises and staff shortages but thinktank offers optimistic outlook for global economy

The UK will be the worst-performing economy in the G7 next year, according to the Organisation for Economic Cooperation and Development, as high interest rates and the lingering effects of last year's surge in inflation drag on growth.

In a downbeat assessment, the Paris-based thinktank also downgraded its forecast for UK growth this year to 0.4% from a November forecast of 0.7%.