Britain's economy is likely to fall further behind eurozone next year

While the UK struggles to build any momentum, the eurozone is expected to grow by 0.5% this year and 1% next, as strong rebounds from France, Italy and Spain — and Germany in 2024 — help boost the area’s performance, according to a new survey

British prime minister Rishi Sunak with European Commission president Ursula Von Der Leyen. Economists expect Mr Sunak will hit his target of halving inflation by the end of the year.

Britain’s economic growth will fall further behind the eurozone next year, and inflation will remain stubbornly high, according to new forecasts that paint a bleak backdrop for the next general election.

Gross domestic product is expected to grow by 0.6% in 2024, well below the 1% gain anticipated in the euro area, a monthly survey of economists by Bloomberg showed.