Sainsbury's Chief Executive calls for immediate rate cuts to stimulate consumer spending and counteract a 6.2% slump in Argos sales, highlighting the impact of economic uncertainties on non-essential purchases.
Revised figures indicate that the UK economy grew by 0.7% in Q1 2024, driven by strong consumer spending, increased exports, and robust business investments. Government policies and sectoral gains also contributed significantly.
The U.S. economy's growth rate was revised up to 1.4% annually, signifying resilience and a positive direction amid inflationary pressures. This article explores contributing factors and future expectations.
The government is considering cutting personal tax rates to boost consumer spending and tackle economic challenges like inflation, unemployment, and decreasing incomes, while weighing long-term fiscal impacts.
