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The level of unemployment average was 4.3 since 2023

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The lastest GDP data that was measured on december 23 is $3340.03 for the UK.

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UK government owns the national debt around 2.8 trillion

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expect overall GDP growth to rise to 1.7% in 2025, up from 0.8% for 2024 however the longer term outlook for the UK economy is weak. Unemployment rate is increasing and interest rates are decreasing. Moreover, government are spending more money and adding more debt. However, the inflation rate is decreasing about 0.3%

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1 Pound sterling equals

43.32 Thai Baht

1 Pound sterling equals

1.25 United States Dollar

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The Bank of England is the UK's central bank and its Monetary Policy Committee has been responsible for:

setting interest rates,

quantitative easing

forward guidance.

Changes are recommended by the Monetary committee and enacted by the gorvenor.

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What is Economic Growth?

Economic growth refers to the increase in the production of goods and services in an economy over time, usually measured by the Gross Domestic Product (GDP). If GDP increases, the economy is growing, and if it decreases, the economy is going down Economic growth is typically expressed as a percentage.

Before COVID-19: The UK's economy was growing at around 1-2% per year.

During COVID-19: In 2020, the UK economy contracted by around 9.9%, one of the largest falls in the world.

Post-COVID recovery: In 2021-2022, the economy grew by about 7.5% as it bounced back, but it has slowed down since then, with challenges like high inflation, rising energy prices, and labor shortages.

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The rate has been declining since June 2023 to June 2024. However, it has been increasing around 2.3% in October.

It is a rapid increase in rent, beverage, food, house utilitie, movie tickets and theathres

transport prices fell much less (-0.9% vs -1.9%) as upward effects from motor fuels and second-hand cars were partially offset by a downward effect from air fares. Meanwhile, services inflation was steady at 5%.

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The UK imports a wide range of goods, including machinery, vehicles, oil, electronics, and consumer products. Its exports primarily consist of machinery, vehicles, pharmaceuticals, financial services, and other high-value goods.