Recent official data from the UK indicates that the country's GDP growth rate for the third quarter of 2024 stood at 0.1%, falling short of expectations. Economists, surveyed by Reuters and the Bank of England, had anticipated a growth rate of 0.2%.
Last week, the Bank of England adjusted its annual growth forecast for 2024, lowering it from 1.25% to 1%. However, the bank remains optimistic about a stronger growth in 2025, supported by a significant spending budget proposed by Chancellor Reeves to boost the economy in the short term.
