UK economy grew less than thought in spring
Published On Sep 30, 2024, 2:33 AM
Recent official figures indicate that the UK economy grew by 0.5% from April to June, which is less than the initially reported 0.6%. Key sectors such as manufacturing and construction have seen more significant declines than previously thought. This data comes as the Labour government prepares its first budget, focusing on economic growth as a central concern.
Stock Forecasts
XLB
Negative
The UK economy's slower growth rate may lead to caution among investors, particularly in sectors sensitive to economic fluctuations. As manufacturing and construction face challenges, ETFs and stocks related to these industries may decline in value.
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