BusinessPostCorner.com
No Result
View All Result
Wednesday, June 18, 2025
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
BusinessPostCorner.com
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
No Result
View All Result
BusinessPostCorner.com
No Result
View All Result

UK economy grew more than first estimated in early 2024

June 28, 2024
in Business
Reading Time: 2 mins read
A A
0
UK economy grew more than first estimated in early 2024
ShareShareShareShareShare

The economy grew by more than initially estimated in the first three months of 2024 as the UK emerged from recession, revised official figures show.

Between January and March, the economy grew by 0.7% the Office for National Statistics (ONS) said.

Figures released last month initially estimated growth had been 0.6%.

The strength of the economy has been a central battleground in the general election campaign, with growth having been sluggish in recent years.

Most economists, politicians and businesses want to see GDP rising steadily, because it usually means people are spending more, extra jobs are created, more tax is paid to the government and workers get better pay rises.

The original figure for the first quarter of the year was stronger than economists had expected, and growth in the services sector, which includes businesses such as hairdressers, banks, and hospitality, helped to push it higher, the ONS said.

But while services growth was revised upwards, increases in manufacturing were revised down on the back of more data being collected.

Paul Dales, chief UK economist at research company Capital Economics, said the faster growth rise in GDP in early 2024 was “mainly due to upward revisions to consumer spending”.

The ONS said there was increased spending on recreation and culture, as well as housing and food, but added household disposable incomes had continued to rise in early 2024 as workers secured wage increases.

Mr Dales said this meant household saving rates rose from 10.2% at the end of last year to 11.1%, which was the highest rate since mid 2021 when savings were boosted during the Covid pandemic.

He added the new figure suggested “whoever is Prime Minister this time next week may benefit from the economic recovery being a bit stronger”.

Credit: Source link

ShareTweetSendPinShare
Previous Post

BTS agency staff facing insider trading charges

Next Post

Biden debate performance leads to calls for him to drop out of race

Next Post
Biden debate performance leads to calls for him to drop out of race

Biden debate performance leads to calls for him to drop out of race

XRP Price Prediction: Down 2.6% This Week – Is a Reversal Brewing for XRP?

XRP Price Prediction: Down 2.6% This Week – Is a Reversal Brewing for XRP?

June 15, 2025
China-ECB Alliance Heralds Bold Yuan Push – Is Dollar Dominance at Risk?

China-ECB Alliance Heralds Bold Yuan Push – Is Dollar Dominance at Risk?

June 12, 2025
Hong Kong bets the future on a vast tech zone by China’s border

Hong Kong bets the future on a vast tech zone by China’s border

June 14, 2025
Los Angeles mayor lifts curfew imposed last week

Los Angeles mayor lifts curfew imposed last week

June 18, 2025
How climate change could worsen a dangerous sleep condition and cost the global economy billions of dollars in lost productivity

How climate change could worsen a dangerous sleep condition and cost the global economy billions of dollars in lost productivity

June 17, 2025
Private equity is investing in accounting: What does that mean for the future of the business?

Private equity is investing in accounting: What does that mean for the future of the business?

June 13, 2025
BusinessPostCorner.com

BusinessPostCorner.com is an online news portal that aims to share the latest news about following topics: Accounting, Tax, Business, Finance, Crypto, Management, Human resources and Marketing. Feel free to get in touch with us!

Recent News

Dogecoin Price Prediction: Liftoff Imminent as “Classic Reversal Pattern” Forms 

Dogecoin Price Prediction: Liftoff Imminent as “Classic Reversal Pattern” Forms 

June 18, 2025
Payroll clarity is an HR must. Plus, news from ADP, Gartner, more

Payroll clarity is an HR must. Plus, news from ADP, Gartner, more

June 18, 2025

Our Newsletter!

Loading
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2023 businesspostcorner.com - All Rights Reserved!

No Result
View All Result
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources

© 2023 businesspostcorner.com - All Rights Reserved!