Britain's GDP grew by 0.4 percent in May on a monthly basis, higher than expectations of 0.2 percent.
Goldman Sachs raised its forecast for GDP growth in Britain by 0.1 percent in 2025 and 2026 to 1.6 percent and 1.5 percent, respectively, after the Labor Party won the elections. The bank expected that the Labor Party's fiscal policy agenda would provide a modest boost to demand growth in the near term. Investors currently place a probability of more than 60 percent that the Bank of England will cut rates at its next meeting on August 1.
Source (Al-Arabiya.net Website, Edited)
