{"id":564,"date":"2024-10-30T19:36:39","date_gmt":"2024-10-30T19:36:39","guid":{"rendered":"https:\/\/jsacs.com\/blog\/?p=564"},"modified":"2024-11-01T22:31:38","modified_gmt":"2024-11-01T22:31:38","slug":"infographic-economic-update-september-2024","status":"publish","type":"post","link":"https:\/\/jsacs.com\/blog\/infographic-economic-update-september-2024\/","title":{"rendered":"[Infographic] ECONOMIC UPDATE SEPTEMBER 2024"},"content":{"rendered":"<p>The UK economy under the Labour government faces considerable challenges, marked by low productivity and deteriorating public services. Labour has responded with major policy initiatives, including a \u00a39.5 billion commitment to public sector wage increases, funded through cuts to capital projects and means-tested benefits like the winter fuel allowance. Economic growth remains a challenge. Contrary to popular belief, higher taxes don\u2019t necessarily stifle growth; rather, the UK\u2019s real GDP growth is limited to 1.8% due to underinvestment.<\/p>\n<p>Labour aims to overcome these challenges with its ambitious housebuilding target of 2.5 million homes on &#8220;grey belt&#8221; land near urban centers, though a shortage of skilled tradesmen may slow progress. Over the next five years, the UK\u2019s economy is projected to grow at 1.8% annually, contingent on addressing underinvestment and Brexit-related disruptions.<\/p>\n<p>Globally, China is experiencing a slowdown, with retail and investment growth at 2-3%, while the US faces political risks that may lead to a recession. In the EU, Germany\u2019s struggling manufacturing sector poses a concern, but Spain and the Netherlands show stronger growth. By the end of 2024, the UK\u2019s real GDP is expected to grow by 1.5%, with inflation at 2.9% and house prices rising by 4%, supported by wage growth and a stable housing market.<\/p>\n<div id=\"attachment_565\" style=\"width: 490px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-565\" class=\"size-full wp-image-565\" src=\"https:\/\/jsacs.com\/blog\/wp-content\/uploads\/2024\/11\/ECONOMIC-UPDATE-SEPTEMBER-2024.gif\" alt=\"[Infographic] ECONOMIC UPDATE SEPTEMBER 2024\" width=\"480\" height=\"1680\" \/><p id=\"caption-attachment-565\" class=\"wp-caption-text\">[Infographic] ECONOMIC UPDATE SEPTEMBER 2024<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The UK economy under the Labour government faces considerable challenges, marked by low productivity and deteriorating public services. Labour has responded with major policy initiatives, including a \u00a39.5 billion commitment to public sector wage increases, funded through cuts to capital projects and means-tested benefits like the winter fuel allowance. Economic growth remains a challenge. Contrary [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-564","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/jsacs.com\/blog\/wp-json\/wp\/v2\/posts\/564","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jsacs.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jsacs.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jsacs.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/jsacs.com\/blog\/wp-json\/wp\/v2\/comments?post=564"}],"version-history":[{"count":1,"href":"https:\/\/jsacs.com\/blog\/wp-json\/wp\/v2\/posts\/564\/revisions"}],"predecessor-version":[{"id":566,"href":"https:\/\/jsacs.com\/blog\/wp-json\/wp\/v2\/posts\/564\/revisions\/566"}],"wp:attachment":[{"href":"https:\/\/jsacs.com\/blog\/wp-json\/wp\/v2\/media?parent=564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jsacs.com\/blog\/wp-json\/wp\/v2\/categories?post=564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jsacs.com\/blog\/wp-json\/wp\/v2\/tags?post=564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}