Jeremy Hunt revises UK GDP forecasts

2:14 PM 22 November 2023

As British Chancellor of the Exchequer Jeremy Hunt has communicated, UK GDP will grow by 0.6% in 2023. It's worth remembering that recent projections suggested a 0.2% decline in GDP. Forecasts for 2024 and 2025 have also changed. Next year's gross domestic product is expected to show growth of 0.7% compared to an earlier report of 1.8%. In 2025, GDP is expected to grow by 1.4% (previously suggested to rise to 2.5%).

On the broad FX market, the British pound is doing very well today.

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