Data shows the British economy grew by 0.1% in the final quarter of 2024, surprising economists who anticipated stagnation. This growth, driven by a significant boost in the service sector, comes as the Labour Party emphasizes economic growth as its primary mission since taking power. However, overall growth has remained limited since last spring. While lawmakers plan to enhance public finances and investment, criticism has emerged regarding tax increases on employers, which have affected business confidence, though a more optimistic outlook has recently developed.
The British economy grew 0.1% in Q4 2024, unexpectedly driven by a surge in service sector activity, easing government pressure as growth remains elusive.
Despite warnings about the economy's bleak state, a recent shift to optimism has emerged, prompting lawmakers to bolster public finances and investments.
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