Britain’s economy is enjoying a “Goldilocks moment” with slowing inflation, rising employment and healthy growth that’s likely to set the stage for a more comfortable backdrop both for the Bank of England and Keir Starmer’s government.
A strong performance in the second quarter meant the UK enjoyed the best growth in the Group of Seven nations in the first half of 2024, outstripping the US and well ahead of other European countries. Official data this week also showed that workers were hired at the quickest pace since November, reducing the jobless rate, while inflation rose less than expected.