Fitch revises U.K. view to stable

Fitch Ratings said it revised the United Kingdom's outlook to stable from negative and affirmed the long-term foreign-currency issuer default rating at AA-.

“Recent macroeconomic, labor market and fiscal outturns since the start of 2021 have shown the U.K. economy and public finances to be more resilient to the impact of the pandemic shock than Fitch had expected. Better adaptation of businesses to working with the economic restrictions and greater resilience of private consumption and investment have resulted in an upward revision of our real GDP growth estimate and forecast for 2020-2021 to -9.8% and 6.6%, respectively (January 2021 review: -10.3% and 5% respectively),” the agency said in a press release.

Fitch said it forecasts growth moderating to 5% in 2022.

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