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via uk.finance.yahoo.comEconomy

HSBC cuts UK 2027 GDP growth forecast to 1.1%

FROM THE WIRE · UK.FINANCE.YAHOO.COM

HSBC has cut its economic growth forecasts for the UK the day before John Healey's first Budget. The bank trimmed its gross domestic product (GDP) growth estimates for 2027 to 1.1pc on Tuesday. It warned the economy would slow thanks to the effects of higher inflation and…

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MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishA lower growth outlook and higher expected unemployment weigh on UK economic expectations ahead of the Budget.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01HSBC cut its UK 2027 GDP growth estimate to 1.1%, down from 1.4% at the start of the year.
  2. 02The bank now expects unemployment to rise to 5.2%, from 4.7% previously.
  3. 03HSBC reported a 32% rise in pre-tax profit to $9.6bn for the three months to September 30.
NEWS IMPACT AND MARKET REACTIONChange from the reference price
HSBC Holdings plcHSBA.LSEStock1,268.00 GBp-0.17%today -7.13%Negative
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets

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