IMF raises UK growth forecast in boost for chancellor - business live

IMF raises UK growth forecast in boost for chancellor

The full report

The International Monetary Fund (IMF) has raised its growth forecast for the UK, according to The Guardian — Business. The IMF's updated forecast is not specified in the provided evidence.

The Guardian — Business reports that the tech-light nature of the FTSE should give it some protection from the AI sell-off in Asia when the UK's market opens shortly, according to Susannah Streeter, chief investment strategist at the broker Wealth Club.

The sell-off drama has been concentrated in Asia, with South Korea's Kospi plunging by around 6% and Japan's Nikkei falling by more than 2% as semiconductor stocks sold off, The Guardian — Business reports.

The tech-heavy Nasdaq in the US also looks set for another slide as worries creep in about just how much tougher the landscape will be ahead, just as the Fed weighs whether further rate rises will be needed in the months to come, The Guardian — Business reports.

Advances by China's CXMT have sent a shiver of apprehension through the market, after the company reported 'key progress' on a new cell architecture designed to bolster memory density, with plans for a product rollout, The Guardian — Business reports.

This is a highly competitive field, with rivals Samsung Electronics and SK Hynix also hard at work at this edge of innovation, The Guardian — Business reports.

It's raised big questions yet again about the impact of technological advancements on the market, The Guardian — Business reports.

Reporting status

This original NewNWS report was drafted from the cited source material and passed a second evidence check. Claims that remain the account of one publisher are attributed in the source disclosure below.