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IMF predicts UK economic growth to lag behind the US in 2024 and 2025
Posted on July 1, 2024 |
The UK’s economy is expected to grow by 0.7% in 2024 and 1.5% in 2025, while the US is projected to grow by 2.7% and 1.9% respectively.
The IMF forecasts that the US will see faster GDP growth than the UK in 2024 and 2025.
In April, the IMF predicted UK GDP growth of 0.5% for 2024 and 1.5% for 2025, compared to 2.7% and 1.9% for the US.
In May, the IMF updated its forecast for the UK, predicting 0.7% growth in 2024 and maintaining a 1.5% growth forecast for 2025.
The revised IMF forecast shows a slight improvement for the UK in 2024, but the US is still expected to grow faster.
These projections indicate a slower economic recovery for the UK than the US over the next 2 years.