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UK Economy Defies Expectations: Unexpected Q2 Growth Reflects Resilience Amid Global Slowdown
The UK's economy has recorded an unexpected 0.3% growth in Q2 2024, challenging previous forecasts and displaying resilience against global economic uncertainties. This growth is largely driven by consumer spending and a robust service sector. Chancellor Rachel Johnson and the Bank of England express cautious optimism while managing inflation and considering interest rate hikes.
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