UK Growth Outlook Cut as Omicron and Supply Chain Troubles Bite, Says IMF

This undated file image shows pedestrians walking in front of Tower Bridge in London. Victoria Jones/PA

UK growth will be held back this year by disruption caused by spread of the Omicron variant of coronavirus and the ongoing supply chain crisis, according to the International Monetary Fund (IMF).

In its latest World Economic Outlook update, the IMF has downgraded its UK growth forecast for 2022 to 4.7 percent from the 5 percent predicted in October.