Economics

With growth of just 0.1% in the three months to October and an unexpected fall in the monthly GDP, the UK economy was already fragile ahead of the Budget.

The BCC's Quarterly Economic Forecast has revised down growth expectations for 2024, but marginally improved GDP expectations for 2025 and 2026.

While inflation is down considerably from this time last year, the larger than expected uptick in October highlights the continuing price pressures in the economy.

Today’s preliminary GDP data for Q3 at 0.1% suggests economic growth has lost some momentum in the second half of 2024.

As businesses continue to digest the difficult implications of last week’s Budget, a further interest rate cut is some good news for firms.

Today's data showing CPI has eased further than expected to 1.7% continues the move away from a prolonged period of high inflation.