KPMG upgrades UK forecasts despite sluggish consumer spending

UK economy to grow twice as fast as expected says KPMG

According to KPMG's latest forecast, this year's economic growth will accelerate to 1. 0 % and next year to 1. 2 %.

KPMG has become the latest urban forecast company that raises predictions on the development of the British economy, despite uncertainty about the increase in consumer costs.

According to the latest forecast, this year's economic growth rate will be 1. 0 %, which will accelerate to 1. 2 % next year.

Big 4 forecasts the July forecast by 2024 and slightly 0, 9 % by 2025, reflecting the growth of the first half of the British economy in the first half of this year.

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And another! EY upgrades forecasts for UK economy

For the first six months of 2024, the UK surprised experts who had expected to be the highest economic growth rate in Big Seine and to stagnate this year.

However, despite the rise in growth rate, KPMG is not expected to recover particularly strongly. Instead, it suggests that the recent rise in savings rates may be "constant".

The first quarter of 2024 household savings (savings of households in disposable income) from 6. 3 % to 11. 1 % in the 2010s.

Considering that the unemployment rate is relatively low, the savings rate is particularly high. With high savings, KPMG predicts only 0. 4 % of consumer costs in 2024 and 1. 4 % in 2025.

Chancellor ‘unlikely’ to stimulate faster growth

"Lon g-term trends, such as changes in consumer behavior due to recent shocks and aging, means that companies must carefully review consumer costs. These are companies. It means that we must carefully reconsider the strategies related to our customers and production. " And KPMG UK's chief economist, Yaer Selfin.

Selfin also paid attention to the next budget plan scheduled for October 30.

However, Self warns that the Prime Minister is unlikely to promote faster growth unless he adjusts debt in five years.

"Growth needs to increase national investment, but the current financial rules cannot make any more investments.

Changing the financial rules to exclude the impact of England Bank's government bonds will only release £ 16 billion. According to the latest forecast of KPMG, this year's economic growth will accelerate to 1. 0 % and next year to 1. 2 %.

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KPMG has become the latest urban forecast company that raises predictions on the development of the British economy, despite uncertainty about the increase in consumer costs.

According to the latest forecast, this year's economic growth rate will be 1. 0 %, which will accelerate to 1. 2 % next year.

Big 4 forecasts the July forecast by 2024 and slightly 0, 9 % by 2025, reflecting the growth of the first half of the British economy in the first half of this year.

For the first six months of 2024, the UK surprised experts who had expected to be the highest economic growth rate in Big Seine and to stagnate this year.

However, despite the rise in growth rate, KPMG is not expected to recover particularly strongly. Instead, it suggests that the recent rise in savings rates may be "constant".

The first quarter of 2024 household savings (savings of households in disposable income) from 6. 3 % to 11. 1 % in the 2010s.

Considering that the unemployment rate is relatively low, the savings rate is particularly high. With high savings, KPMG predicts only 0. 4 % of consumer costs in 2024 and 1. 4 % in 2025.

"Lon g-term trends, such as changes in consumer behavior due to recent shocks and aging, means that companies must carefully review consumer costs. These are companies. It means that we must carefully reconsider the strategies related to our customers and production. " And KPMG UK's chief economist, Yaer Selfin.

Selfin also paid attention to the next budget plan scheduled for October 30.

However, Self warns that the Prime Minister is unlikely to promote faster growth unless he adjusts debt in five years.

"Growth needs to increase national investment, but the current financial rules cannot make any more investments.

Changing the financial rules to exclude the impact of England Bank's government bonds will only release £ 16 billion. According to KPMG's latest forecast, this year's economic growth will accelerate to 1. 0 % and next year to 1. 2 %.

KPMG has become the latest urban forecast company that raises predictions on the development of the British economy, despite uncertainty about the increase in consumer costs.

According to the latest forecast, this year's economic growth rate will be 1. 0 %, which will accelerate to 1. 2 % next year.

Big 4 forecasts the July forecast by 2024 and slightly 0, 9 % by 2025, reflecting the growth of the first half of the British economy in the first half of this year.

For the first six months of 2024, the UK surprised experts who had expected to be the highest economic growth rate in Big Seine and to stagnate this year.

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However, despite the rise in growth rate, KPMG is not expected to recover particularly strongly. Instead, it suggests that the recent rise in savings rates may be "constant".

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The first quarter of 2024 household savings (savings of households in disposable income) from 6. 3 % to 11. 1 % in the 2010s.

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Considering that the unemployment rate is relatively low, the savings rate is particularly high. With high savings, KPMG predicts only 0. 4 % of consumer costs in 2024 and 1. 4 % in 2025.

  • "Lon g-term trends, such as changes in consumer behavior due to recent shocks and aging, means that companies must carefully review consumer costs. These are companies. It means that we must carefully reconsider the strategies related to our customers and production. " And KPMG UK's chief economist, Yaer Selfin.
  • Selfin also paid attention to the next budget plan scheduled for October 30.
  • However, Self warns that the Prime Minister is unlikely to promote faster growth unless he adjusts debt in five years.
  • "Growth needs to increase national investment, but the current financial rules cannot make any more investments.
  • Changing the financial rules to exclude the impact of England Bank's government bonds will only release £ 16 billion.

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Last modified 29.07.2025

KPMG predicts the economy is on track to grow % in before accelerating slightly to % in However, it does not expect to see a particularly. The absence of these factors in the second half of the year could see growth slow in line with a more muted pace of consumption and investment. This contrasts with the Eurozone where growth has been more sluggish, creating an expectation for multiple rate cuts this year. UK consumer spending: Higher.

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