From Morningstar:

The UK’s economy is heading in a positive direction, as stated by Prime Minister Sunak during a meeting with business leaders. Despite global challenges, such as disruptions in the Red Sea affecting tea supplies, the prime minister is optimistic about the economy. Inflation has dropped from 11% to 4% and PwC predicts UK will outperform France, Germany, and Japan.

The UK’s consumer prices index remains steady at 4% for January, which is below the expected 4.2%. However, it continues to be double the Bank of England’s 2% target. The Office for National Statistics will release fresh gross domestic product figures for December 2023 today. The Prime Minister attributes the positive economic changes to the government’s ability to start cutting taxes. He emphasized his background in business, stating that it defined his life before entering politics or serving as chancellor of the exchequer during the pandemic.



Read more: UK Economy Has Turned Corner, Sunak Tells Business…