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Autumn Budget 24: OBR upgrades UK economic growth to 1.1% in 2024
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Based on data from the Office for Budget Responsibility (OBR), Reeves said the forecast for Britain's GDP was higher than the 0.8% predicted by the OBR in March. However, the updated figure was slightly lower than the Bank of England's latest prediction of 1.1%. The latest data for 2024 matches the consensus forecasts among economists, while Capital Economics was expecting GDP growth to hover at 1% for 2024. According to the OBR, the UK economy is predicted to grow 2% in 2025, 1.8% in 2026, before declining to 1.5% in 2027 and 2028. Autumn Budget 24: Government to raise taxes b...
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