Posted 2/5/2024, 2:45:26 PM
UK Services Boom But High Inflation Looms Over Growth Outlook
- UK services sector growing at fastest pace in 8 months, outpacing France and Germany
- However, UK still forecast to have highest inflation of G7 countries in 2024 and 2025
- OECD downgrades UK 2022 growth to 0.1%, but keeps 2023 and 2024 forecasts steady
- OECD says central banks could start cutting rates in 2024 if inflation keeps easing
- Germany set for weakest G7 expansion in 2023 at 0.3%, UK and Italy both at 0.7%
