PwC backs UK economy and predicts a healthy 2024

<img width="250" height="167" src="https://www.leaprate.com/wp-content/uploads/2023/12/FIN-LP-PwC-backs-UK-economy-and-predicts-a-healthy-2024-5751889822-iStock-1439139848-250×167.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="" decoding="async" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="https://www.leaprate.com/wp-content/uploads/2023/12/FIN-LP-PwC-backs-UK-economy-and-predicts-a-healthy-2024-5751889822-iStock-1439139848-250×167.jpg 250w, https://www.leaprate.com/wp-content/uploads/2023/12/FIN-LP-PwC-backs-UK-economy-and-predicts-a-healthy-2024-5751889822-iStock-1439139848-700×467.jpg 700w, https://www.leaprate.com/wp-content/uploads/2023/12/FIN-LP-PwC-backs-UK-economy-and-predicts-a-healthy-2024-5751889822-iStock-1439139848-768×512.jpg 768w, https://www.leaprate.com/wp-content/uploads/2023/12/FIN-LP-PwC-backs-UK-economy-and-predicts-a-healthy-2024-5751889822-iStock-1439139848-120×80.jpg 120w, https://www.leaprate.com/wp-content/uploads/2023/12/FIN-LP-PwC-backs-UK-economy-and-predicts-a-healthy-2024-5751889822-iStock-1439139848-245×163.jpg 245w, https://www.leaprate.com/wp-content/uploads/2023/12/FIN-LP-PwC-backs-UK-economy-and-predicts-a-healthy-2024-5751889822-iStock-1439139848-500×333.jpg 500w, https://www.leaprate.com/wp-content/uploads/2023/12/FIN-LP-PwC-backs-UK-economy-and-predicts-a-healthy-2024-5751889822-iStock-1439139848.jpg 1254w" sizes="(max-width: 250px) 100vw, 250px" /><p>According to recent data, the BoE’s targets are a little pessimistic when compared to their predictions, especially considering <a href="https://www.leaprate.com/news/uk-inflation-drops-and-analysts-predict-rate-cuts-in-2024/" target="_blank" rel="noopener">inflation</a> fell to its lowest in two years at 3.9% in November 2023. PwC has warned the BoE that “increased inflationary pressures” will persist in either outcome but that a decrease in global energy prices could help soothe the difficulties faced by domestic households.</p>
<div><img aria-describedby="caption-attachment-451678" decoding="async" class="wp-image-451678" src="https://www.leaprate.com/wp-content/uploads/2023/12/FIN-LP-PwC-backs-UK-economy-and-predicts-a-healthy-2024-5751889822-1516983113534.jpg" alt="" width="98" height="98" srcset="https://www.leaprate.com/wp-content/uploads/2023/12/FIN-LP-PwC-backs-UK-economy-and-predicts-a-healthy-2024-5751889822-1516983113534.jpg 201w, https://www.leaprate.com/wp-content/uploads/2023/12/FIN-LP-PwC-backs-UK-economy-and-predicts-a-healthy-2024-5751889822-1516983113534-150×150.jpg 150w, https://www.leaprate.com/wp-content/uploads/2023/12/FIN-LP-PwC-backs-UK-economy-and-predicts-a-healthy-2024-5751889822-1516983113534-120×120.jpg 120w" sizes="(max-width: 98px) 100vw, 98px" /><p>Barrett Kupelian Source: LinkedIn</p></div>
<p>Barrett Kupelian, chief economist at PwC, expressed enthusiasm regarding the positive economy 2024 could bring. He stated:</p>
<blockquote><p>Despite the legacy of high consumer prices and rising housing costs, inflation is returning to near-normal levels, progress on regional growth and improving real incomes provide optimism for the year ahead.<span> </span></p></blockquote>
<p>PwC also noted:</p>
<blockquote><p>For the first time since 2021, more households would expect to be better off than worse off in twelve months&#8217; time.<span> </span></p></blockquote>
<p>Last week, revised third-quarter data showed that Britain is on the brink of a technical recession following two consecutive quarters of negative growth. However, positive sentiment from the PwC suggests that the UK will outperform Germany and France in 2024, mainly due to increased consumer spending.</p>
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