Enquire About Our Bespoke Finance Solutions
Forecasters have predicted that the UK economy will see growth higher than initially expected.
The Office for Budget Responsibility (OBR) had forecasted that GDP in the UK will see a 1.1% increase in 2024, where forecasting from March 2024 stated a rise of 0.8% for the year.
Future estimations have the UK economy growing by 2% by next year, where previous forecasting stated 1.9%.
For the years following, the UK economy is forecasted to grow by 1.8% in 2026, and 1.5% in both 2027 and 2028.
Inflation rates in September are the lowest recorded in the last 3 years, sitting at 1.7% with the Chancellor going on to state that the UK Government will keep the inflation rate target at 2% for the Bank of England.
OBR forecasts have predicted inflation rates at 2.6% for 2025, however, rates are set to dop over the years following, with 2028 inflation rates forecasted at 2.1%.
If you need further information, email enquiries@maffinancegroup.co.uk, call 0115 958 6872, or fill out the enquiry form below.
Have Any Questions?
Qualified Team Available
Almost half of UK energy production is renewable.
Growth experienced in the UK construction sector in Q3 2024.
The UK sees an increase in economic growth through a boost in spending.
How will the Autumn 2024 budget affect businesses?
Company car incentives set to continue past 2028 for electric vehicles.
The contents of the Autumn 2024 Budget in the House of Commons has been revealed.