OECD unveils gloomy outlook for the UK economy

The UK economy will weaken as the jobs boom ends and inflation hits household incomes, according to a major global think tank.

This is another blow for the UK, after sharp cuts to GDP forecasts were unveiled in the Budget last week.

Revealing its outlook for 2019 for the first time, the Organisation for Economic Co-operation and Development (OECD) said it expected UK growth to worsen over the next two years. Its view is even more bleak than that of the Office for Budget Responsibility, presented last week.