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LONDON — The U.K. economic growth was 0.4% in MayFlash figures published by the Office The following are some examples of how to use National Statistics Shown on ThursdayWith the British The announcement led to the pound reaching a new four-month high in relation to the U.S. Dollar.

Gross The domestic product grew by 0.2% in the month of August, which was above the forecasted growth rate of 0.2%. Reuters Survey of economists

The British In the first quarter, the economy had a slight recession. flatlined in April.

The In the nation’s largest services sector, growth continued at 0.3%. MayBoth production and construction output rebounded after losses and rose by 0.2% and 1,9% respectively.

Sterling The dollar had risen 0.14% to $1.2863 at 8:30 a.m. London — the highest level for the British Currency March According to LSEG data, the date for 2024 is 8th.

The The broad-based recovery is welcomed by all. newly-elected Labour Party. Prime Minister Keir Starmer He begins his first work week.

Goldman Sachs Last Week upgraded its growth forecast For the U.K., follow left-of-center Labour’s The country’s general elections were a resounding success. The The party ran a campaign based on a platform that was centered around boosting economic growth, housing and planning.

The Analysts have characterized the government’s business-friendly message and large parliamentary majority as generally supportive of U.K. assets.

In Notes Ashley WebbThe U.K. economist is at Capital EconomicsThe recent trend in British GDP increases in recent months — barring the lack of growth in April — “which supports the idea that the dual drags on activity from higher interest rates and higher inflation are starting to fade.”

Price The rise in U.K. has cooled down from a 41 year high of 11,1% in October 2022 is the year to be. down to the Bank of England’s 2% target You can also find out more about the following: May This year is the first time that we will be able to see this. The The performance of the economy has led to expectations that interest rates will be cut by the Federal Reserve. Bank You can also find out more about the following: England.

HoweverThe BOE has continued to strike a cautious tone At its best June Meeting even after its peers European Central Bank They started their own path of interest rate cutsWarning that key indicators for inflation persist in the U.K. “remained elevated.” Markets The majority of people are roughly equally divided about the prospect for a cut in its August meeting.

Labour The Agenda

It It is now up to the new Government to create momentum around the latest economic growth figures. Muniya BaruaIn an email,, the deputy chief executive of industry campaign group BusinessLDN said.

“With the public finances stretched, ministers should follow its flurry of recent pro-growth announcements by prioritising high-impact, low-cost measures which taken together could help unlock much-needed private investment,” Barua He cited the overhaul of the system for apprenticeships and the scrapping of stamp duties on share transactions.

New Finance Minister Rachel Reeves Last Week said Labour would Lift the ban on new offshore wind farms and introduce mandatory targets for house building England Plan reform is needed to improve planning. On Wednesday she announced the launch of a £7.3 billion ($9.4 billion) national wealth fund targeted at attracting private sector investment in U.K. infrastructure projects.

The Business community is now waiting Labour’s First fiscal statement is not expected before mid-yearSeptember, Lindsay JamesThe investment strategist is at Quilter InvestorsIn a letter, he said:

This “should make both taxation and spending plans clearer. This will allow businesses to better plan ahead and could in turn reinvigorate their want to invest,” James said.

“However, this would take time to feed through, and until there is a better understanding of what is to come, we are unlikely to see any meaningful acceleration in GDP growth,” She added.

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