Macro - Country Economic Forecasts - United Kingdom

Macro - Country Economic Forecasts - United Kingdom



We've raised our forecast for UK GDP growth in 2024 to 0.5%, up from 0.4% last month, and in 2025 to 2.0%, up from 1.8%. This is due to the loosening of fiscal policy announced in the Budget. The cut to national insurance contributions (NICs) will offer a modest boost to household spending power, adding to the impact of a sharp fall in inflation.


UK: Looser fiscal policy prompts modest forecast upgrade
forecast overview
Recent developments
Short-term outlook
Key drivers of our Short-term forecast
Economic risk
Economic risk evaluation
risk warnings
What to watch out for
Exposure to Key global risks
Long-term prospects
Background
Economic development
Structure of the economy
Balance of payments and Structure of trade
policy
Politics

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