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- Cautiously optimisticThe UK economic outlook for 2024 is cautiously optimistic. The economy is expected to recover from a technical recession, with real GDP growth projected to be 0.3% in 2024 and accelerating to 0.9% in 2025. Improving incomes and easing credit conditions are expected to bolster consumer spending and investment123. Real disposable income is set to increase by around 2.5% due to falling inflation and elevated wage growth4.Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.The UK economy staged an early recovery from a technical recession in the second half of 2023, with real GDP growth expected to be 0.3% in 2024, and to accelerate to 0.9% in 2025. We expect improving incomes to bolster consumer spending, while investment should also benefit from easing credit conditions.kpmg.com/uk/en/home/insights/2018/09/uk-econo…The UK economy remains on a knife edge, after a year of stop-start economic growth, the Bank of England forecasts continued economic stagnation into 2024. Other forecasters are marginally less pessimistic, hopeful that a fall in inflation will help to increase real wages and consumer spending.www.economicshelp.org/blog/214692/uk-economy/…The UK economy is expected to grow every year until the end of 2026 but will continue to lack momentum. While 2023 ended with a technical recession confirmed for Q3 and Q4, growth for 2024 and 2025 has been revised upwards slightly to 0.5% and 0.7% respectively, with 2026 set to grow at 1.0%.www.britishchambers.org.uk/news/2024/02/bcc-ec…In the UK, real (inflation adjusted) disposable income is set to get a significant boost of around 2.5% in 2024 as headline inflation falls and wage growth remains elevated, according to Goldman Sachs Research. The growth drag from the Bank of England’s rate hikes is now peaking and poised to fade steadily through 2024.www.goldmansachs.com/intelligence/pages/will-th…
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