EY Item Club predicts GDP of only 0.8% this year as Ipsos Mori poll shows three-quarters of Britons expect economy to get worse

The UK economy is set to slow sharply for the next two years as Donald Trump’s global tariff war weighs on consumer spending and business investment, a study by a leading forecaster has predicted.

The findings by EY Item Club, which is sponsored by the big four accountancy firm EY, come as a separate survey reported that confidence in Britain’s economy has fallen to the lowest level on record.