Reuters
UK economy forecast to grow by 0.7% in 2024
S.Martinez3 months ago
People carry shopping bags as they look for bargains in the traditional Boxing Day sales in Liverpool, Britain, December 26 , 2021. REUTERS/Phil Noble/File Photo Acquire Licensing Rights
LONDON, Nov 22 (Reuters) - Britain's economy is forecast to grow by 0.7% in 2024, finance minister Jeremy Hunt said on Wednesday, citing the latest projections from the Office for Budget Responsibility (OBR). The new prediction for growth next year was much weaker than a forecast for an expansion of 1.8% next year in the OBR's previous outlook published in March. The OBR forecast economic output would grow by 1.4% in 2025 and by 1.9% in 2026, Hunt said as he gave a budget speech to parliament. Those forecasts were also weaker than the OBR's previous forecasts of growth of 2.5% and 2.1% respectively. Writing by Kate Holton; reporting by David MillikenEditing by William Schomberg Our Standards: The Thomson Reuters Trust Principles.Read the full article:https://www.reuters.com/world/uk/uk-economy-forecast-grow-by-07-2024-2023-11-22/
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