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UK economy set for strong recovery in 2025 after recession.
The UK economy is slowly recovering from a recent recession, with expected growth of 0.7% in 2024 and 1.5% in 2025. Inflation is decreasing due to lower energy prices and strict policies. If wage and services inflation continue to drop, inflation should reach target levels by early 2025. However, public spending pressures in healthcare and lower labor productivity growth are challenges. The outlook is uncertain, with risks balanced, and a general election is set for July 4.
