BBC on Nostr: UK economic growth 'robust', OECD think tank says ========== The UK is projected to ...
UK economic growth 'robust', OECD think tank says
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The UK is projected to have a joint-second highest economic growth of 1.1% in 2024, alongside Canada and France, but behind the US; Chancellor Rachel Reeves welcomed the improved figures, aiming to balance optimism with the reality of tough times ahead; The OECD's previous estimate in May had placed the UK last among G7 nations; For 2025, the UK is expected to have a joint-fourth fastest growth at 1.2%, only ahead of Germany and Italy; Consumer prices in the UK are forecasted to rise by 2.7% this year and 2.4% next year; The OECD advises a reduction in interest rates and decisive action to manage debt; Many wealthy nations face challenges from ageing populations, climate change, and increased defense spending; Some economists argue for increased borrowing to stimulate growth.
#UkEconomy #Oecd #RachelReeves #EconomicGrowth #G7 #Inflation #InterestRates #DebtManagement #ConsumerPrices #FinancialPolicy
https://www.bbc.com/news/articles/c0lw07l7p70o
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The UK is projected to have a joint-second highest economic growth of 1.1% in 2024, alongside Canada and France, but behind the US; Chancellor Rachel Reeves welcomed the improved figures, aiming to balance optimism with the reality of tough times ahead; The OECD's previous estimate in May had placed the UK last among G7 nations; For 2025, the UK is expected to have a joint-fourth fastest growth at 1.2%, only ahead of Germany and Italy; Consumer prices in the UK are forecasted to rise by 2.7% this year and 2.4% next year; The OECD advises a reduction in interest rates and decisive action to manage debt; Many wealthy nations face challenges from ageing populations, climate change, and increased defense spending; Some economists argue for increased borrowing to stimulate growth.
#UkEconomy #Oecd #RachelReeves #EconomicGrowth #G7 #Inflation #InterestRates #DebtManagement #ConsumerPrices #FinancialPolicy
https://www.bbc.com/news/articles/c0lw07l7p70o