Storms and strikes not flooding the positive outlook on the UK economy

<img width="562" height="339" src="https://www.leaprate.com/wp-content/uploads/2017/08/UK-economy.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/2017/08/UK-economy.jpg 730w, https://www.leaprate.com/wp-content/uploads/2017/08/UK-economy-230×138.jpg 230w, https://www.leaprate.com/wp-content/uploads/2017/08/UK-economy-380×228.jpg 380w, https://www.leaprate.com/wp-content/uploads/2017/08/UK-economy-88×53.jpg 88w, https://www.leaprate.com/wp-content/uploads/2017/08/UK-economy-150×90.jpg 150w, https://www.leaprate.com/wp-content/uploads/2017/08/UK-economy-500×301.jpg 500w" sizes="(max-width: 562px) 100vw, 562px" /><p>As traders recently turned bullish on the sterling for the first time in three months, analysts believe the <a href="https://www.leaprate.com/news/pwc-backs-uk-economy-and-predicts-a-healthy-2024/" target="_blank" rel="noopener">UK economy</a>, which spent most of 2023 on the rim of recession, is on the rise. Bloomberg reports that stocks are also stronger, according to the latest retail statistics.</p>
<p>Realistically, this outlook can sour very quickly, especially considering the disruptions to the transport and health industries. Economists also warned that should inflation remain at its current mark or rise again, it would back the Bank of England (BOE) into a high-interest-rate corner, negatively impacting bonds.</p>
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<p>The pound, however, on the back of a weaker dollar, Maintained its increasing momentum, which started during the last few months of 2023. Even when the US currency bounced back somewhat during the past week, the pound sterling clung to its gains.</p>
<p>According to Bloomberg, Goldman Sachs predicted a sterling gain of $1.30 against the dollar, while Fidelity upped this even more to $1.40. On Friday, the pound sterling traded at $1.27 to the dollar.</p>
<p>UK house prices also held out against sombre 2023 predictions, bolstering the economic forecast further. Rising wages and anticipated BOE rate cuts predict good news for consumers in the coming year.</p>
<p>The post <a rel="nofollow" href="https://www.leaprate.com/forex/market-news/storms-and-strikes-not-flooding-the-positive-outlook-on-the-uk-economy/">Storms and strikes not flooding the positive outlook on the UK economy</a> appeared first on <a rel="nofollow" href="https://www.leaprate.com">LeapRate</a>.</p>