Economy Talk

IMF forecasts but make them weather forecasts

Today: 3.1% growth with a chance of resilience. Light inflation showers, 4.7%.

Middle East: severe disruption warning, avoid the Strait of Hormuz.

UK: mostly cloudy, slight upgrade to 1.3%, bring an umbrella anyway.

Long-range forecast: "resilience reaching its limits". In other words, don't plan a picnic.