UK economy forecast to grow by 0.7 pc in 2024
Business
UK economy forecast to grow by 0.7 pc in 2024
LONDON (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.
