26 September 2024
UK Macroeconomic Snapshot - navigating uncertainty
The challenges of the UK economy continue and while 2024 economic growth initially exceeded expectations, it has recently shown signs of slowing. Monthly real GDP was flat in both June and July 2024, indicating a pause in expansion. Inflation rose by 2.2% in August 2024, unchanged from July. However, the resurgence of services inflation to 5.6% in August, despite a temporary dip in July (5.2%), underscores the ongoing challenge of taming inflationary pressures.
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