The BCC’s award-winning Quarterly Economic Forecast has upgraded growth expectations for 2024, with 2025 remaining unchanged, and a minor upward revision for 2026.
- UK GDP growth expected to be 1.1% for the whole of 2024, 1.0% in 2025, and 1.1% in 2026.
- CPI inflation rate is expected to increase to 2.6% by Q4 2024, slightly higher than previous forecast. The interest rate is expected to be cut to 4.9% by the end of 2024.
- Exports and imports are expected to fall in 2024, while overall investment is projected to grow.
