NIESR forecast UK GDP to grow by 0.3% in Q1, aligns with a pattern of “low, but stable economic growth,” suggesting a potential “turning point” for the nation after slipping into a technical recession in the latter half of 2023.
The forecast comes with a critical analysis of UK’s economic stagnation, emphasizing the necessity for “structural changes” to break free from the so-called low-growth trap. The institute’s recommendation underscores the importance of bolstering public investment, particularly in pivotal areas such as infrastructure, education, and health.
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