Posted 12/18/2023, 7:44:00 AM
UK Faces Slow Growth and Rising Joblessness, While Global Outlook Dims
- UK economic growth forecast to be just 0.5% in 2024 by KPMG, rising slightly to 1% in 2025
- High interest rates and policy uncertainty dragging on global growth
- UK unemployment tipped to rise from 4.1% this year to 4.7% in 2024 and 4.9% in 2025
- UK economy described as "limping with a sprained ankle" and vulnerable to shocks
- German business sentiment weakens in December according to latest IFO survey data