The Organisation for Economic Co-operation and Development has forecasted the UK economy to grow by more than 1% in 2024 and 2025 despite headline inflation remaining below target.
In its latest economic outlook published on Wednesday (25 September), the OECD said UK GDP is now expected to grow by 1.1% in 2024 and 1.2% in 2025, up 0.7 and 0.2 percentage points, respectively, from the predictions made in its previous outlook published in May. Meanwhile, interim projections put the headline inflation figure at 2.7% for 2024, with that number set to further decline to 2.4% in 2025. The headline figure for inflation for 2024 remained unchanged from May, while the data for 2025 has marked a slight increase of 0.1 percentage points from previous expectations. UK ec...
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