European Economics Analyst: UK Outlook 2024: Not So Different After All

While the UK economic outlook looked substantially worse than for other advanced economies a few months ago, the UK’s prospects have converged to other DMs in important respects. First, the economy has shown surprising growth resilience and (so far) avoided a recession. Goldman Sachs Research expects growth to improve modestly in 2024 as real disposable income rises and the growth drag from the BoE’s tightening diminishes. Our economists look for growth of 0.6% next year, slightly above consensus.