BRITAIN could still suffer "a mild recession" despite the economy performing much better than experts warned at the turn of the year, the head of Lloyd's Bank, the country's largest mortgage lender, has said.

Charlie Nunn, CEO of Lloyds Bank, told The Sunday Times that there is a "more positive outlook" about the UK economy versus a few months ago.

Nunn's recession bet runs against the International Monetary Fund, which reckons the UK economy will shrink 0.3 per cent this year.

The Bank of England and Office for Budget Responsibility have both canned their recession forecasts for 2023.

(c) 2023 City A.M., source Newspaper