The UK economy has received a hefty upgrade from the International Monetary Fund (IMF), a welcome boost for the Chancellor ahead of her first Budget. Economists at the international fiscal watchdog now expect the UK to grow 1.1 per cent in 2024, up from a previous forecast of 0.7 per cent. Among rich economies only Spain received … Continued
The UK has risen in the rankings of a group of wealthy nations to have the joint-second highest economic growth for this year, a think tank has predicted. The economy is now expected to grow by 1.1%, the same rate as Canada and France, but behind the US. The Organisation for Economic Co-operation and Development’s … Continued
JP Morgan has revised its growth forecasts for the UK economy in the third quarter of this year, following last week’s encouraging GDP figures. The investment bank now projects 0.4 per cent growth from July to September, a slight increase from an earlier forecast of 0.3 per cent, resulting in an annualised rate of approximately 1.5 per … Continued
Business confidence rebounded sharply in July, a survey revealed, as firms felt a renewed sense of optimism about the UK’s economic prospects. Overall business confidence jumped by nine points to 50 per cent this month, according to Lloyds’ Business Barometer. The rebound in confidence during July brought business confidence back up to May’s level, which was the … Continued
The economy’s strong performance so far in 2024 looks set to continue thanks to the continued recovery of the manufacturing sector, a closely watched survey suggests. S&P’s purchasing managers’s index (PMI) came in at 52.7, up from 52.3 last month and slightly higher than the 52.6 expected by economists. The survey, which measures economic activity in the … Continued