The UK's economy is expected to perform the worst among developed nations in 2024 due to sluggish growth. High interest rates and inflation have weighed on the UK economy, with GDP growth projected at just 0.4%, trailing other countries. Despite global economic recovery, the UK's economy lags behind due to government policies and external factors, leading to a weaker outlook compared to other advanced nations.
The UK economy grew a modest 0.2% in January, driven by construction and services. However, it remains in a shallow recession, with overall output falling by 0.3% compared to a year ago. While these figures are slightly better than expected, economists caution that it's too early to say if the recovery is sustainable.
