The UK economy is expected to grow by less than previously forecast next year, according to the OECD, which has highlighted the potential impact of higher energy prices.
The organisation said the conflict in the Middle East could push energy costs higher, creating additional pressure on economic growth. It also identified climate change as a factor that could weigh on the outlook.
The warning suggests that the UK’s economic performance could be weaker than earlier expectations if these pressures intensify. However, the supplied assessment does not include a revised growth figure or further detail on the scale of the potential impact.
The OECD’s latest view places energy prices and wider global risks among the issues that could shape the UK economy over the coming year.
