- The UK economy is out of the technical recession it slipped into in the second half of 2023 and has seen a relatively strong recovery so far.
- Headline inflation remains close to the Bank of England’s 2% target but underlying price pressures persist.
- The Bank of England has started easing policy, cutting rates by 25 basis points in August.
- Economists have been upgrading their forecasts for UK growth this year, with quarterly growth widely expected to average at the UK’s long-term trend.
- Corporate perceptions of uncertainty have fallen and risk appetite has risen sharply following the general election.
- All eyes are on the new government's Autumn Budget, which will set out its medium-term economic agenda.
- Timing: the Autumn Budget will be announced on 30 October 2024.
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