UK Business

UK economy stagnation should start to fade in 2024, says EY ITEM Club

Jasbir APM
By Jasbir APM 1 Min Read
UK Economy Stagnation
UK Economy Stagnation

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  • The new EY ITEM Club Winter Forecast expects the UK economy to grow 0.9% in 2024, up from the 0.7% growth projected in October’s Autumn Forecast
  • GDP growth expectations for 2025 have also been upgraded from 1.7% to 1.8%, although 2023 growth predictions have been downgraded from 0.6% to 0.3%
  • Inflation is expected to fall faster than previously expected, reaching the Bank of England’s 2% target by May and averaging 2.4% in 2024
  • Bank Rate is also expected to fall significantly in 2024, with 100-125 basis points of rate cuts predicted to be made this year

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ਰਾਜ ਪੱਧਰੀ ਬਾਕਸਿੰਗ ਮੁਕਾਬਲੇ ਧੂਮ- ਧੜੱਕੇ ਨਾਲ ਸ਼ੁਰੂ
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