this post was submitted on 03 May 2024
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Economics

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The UK economy will see the slowest growth of the largest developed nations next year, according to forecasts. 

The Organisation for Economic Co-operation and Development (OECD) predicted that UK gross domestic product - a key measure of economic health - will rise by 1% in 2025.

This is below the rest of the G7 nations, which include Canada, France, Germany, Italy, Japan and the US.

The OECD, which is a globally recognised think tank, said the UK economy would be “sluggish” this year.

The organisation blamed the after-effects of a succession of interest rate rises in the UK for the lethargic performance.

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