Macro - Country Economic Forecasts - United Kingdom
We've cut our forecasts for UK GDP growth by 0.1ppt to 1% for 2024 and by 0.2ppts to 1.5% for 2025 to reflect recent national accounts revisions. The downgrade to this year is due to growth in Q2 being revised lower. We expect growth to be softer in 2025 because large downward revisions to the household saving ratio over the past couple of years suggest much less scope for dis-saving to boost consumer spending.
- UK: National Accounts revisions drive forecast downgrades
- 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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