Published On Oct 30, 2024, 9:02 AM
The UK economy is projected to grow by 1.1% this year, an increase from the earlier forecast of 0.8%. Furthermore, the Office for Budget Responsibility anticipates a growth of 2% in 2025, up from a previous estimate of 1.9%. However, growth is expected to slow down in 2026 and beyond.
Positive
The positive growth forecast could imply improved consumer spending and business investments in the UK, supporting sectors like retail and construction.
Oct 30, 2024, 7:50 AM
The continent’s economy continued to limp along, expanding just 0.4 percent in the latest quarter, dragged down by a loss of competitiveness.
Oct 28, 2024, 12:01 AM
The new Labour Party government said it had inherited a challenging financial position and warned of tax increases and spending cuts when it reveals its budget this week.
Oct 28, 2024, 12:01 AM
The new Labour Party government said it had inherited a challenging financial position and warned of tax increases and spending cuts when it reveals its budget this week.