The Conference Board Coincident Economic Index (CEI) for the United Kingdom increased by 0.2 per cent in February 2024 to 104.9 (2016=100), after increasing by 0.3 per cent in January. Over the six-month period between August 2023 and February 2024, the CEI for UK rose by 0.6 per cent, slightly faster than the 0.4 per cent growth over the previous six-month period, The Conference Board said in a press release.
“The UK LEI declined in February, but the six-month pace of decline has been moderating in recent months,” said Allen Li, associate economist at The Conference Board. “In addition, fewer components have been declining, with working hours and share prices seeing improvement in recent months. Overall, this suggests that headwinds to economic growth in the United Kingdom may start easing later in the year. The Conference Board currently projects that annual real GDP growth will pick up slightly in 2024 to 0.4 per cent, largely thanks to expected rate cuts.”
Fibre2Fashion News Desk (KD)