UK economy defies gloomy warnings to grow 0.7% in first quarter of year
Expansion came despite looming tax rises and tariffs but economists predict growth will weaken in coming monthsBusiness live – latest updatesThe UK economy grew by a bigger than forecast 0.7% in the first three months of the year, figures show, defying business warnings of a collapse in confidence ahead of Labour’s tax increases and Donald Trump’s sweeping tariffs.The Office for National Statistics said gross domestic product (GDP) rose at the strongest pace in a year, beating City predictions of a 0.6% rise and continuing an expansion after growth of 0.1% in the final quarter of 2024. Continue reading...
Expansion came despite looming tax rises and tariffs but economists predict growth will weaken in coming months
The UK economy grew by a bigger than forecast 0.7% in the first three months of the year, figures show, defying business warnings of a collapse in confidence ahead of Labour’s tax increases and Donald Trump’s sweeping tariffs.
The Office for National Statistics said gross domestic product (GDP) rose at the strongest pace in a year, beating City predictions of a 0.6% rise and continuing an expansion after growth of 0.1% in the final quarter of 2024. Continue reading...
