The economy is “returning to full health for the first time since the pandemic”, Chancellor Jeremy Hunt declared last week as latest figures revealed the fastest rate of economic growth in two years.
According to the Office for National Statistics (ONS), the UK economy grew by 0.6% in the first quarter of 2024, outstripping forecasts by the Bank of England and representing the strongest growth for any G7 country, with the eurozone lagging behind on 0.3% and the US on 0.4%.
But while the UK has emerged from the mild recession that began at the end of last year, triumphant noises from the government have been met with “a mixture of resignation, laughter and annoyance” from a public still feeling the pinch from the cost-of-living crisis and high inflation, said BBC economics editor Faisal Islam.
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