CBI responds to latest GDP data for Q4 2024 - Feb 2025

Ben Jones, Lead Economist, CBI, said:  

“The rebound in activity in December is encouraging. Although growth over Q4 as a whole was still lacklustre, the data supports our view that the loss of momentum in the second half of last year will prove to be a soft patch for the economy rather than a slide back into stagnation. 

“But our recent forecast for a return to moderate growth over 2025 will require consumers to abandon some of their recent caution. And it assumes that businesses won’t see their headroom for investment squeezed any further. 

“Today’s figures underline how important the government’s renewed focus on growth is. Much of the innovation and investment necessary to drive economic growth will come from business leaders across the UK.  

“They want to see a government fired up to move from positive words to ambitious delivery, working with business to create the right environment for investment and expansion.

“Whether that’s the Industrial Strategy, or reforms to business rates and the Apprenticeship Levy. By prioritising these the government can unlock much needed private sector investment and deliver on its clear vision to kickstart the economy in 2025.”