US EditionUK economy grows 0.7% in first quarter
- The United Kingdom's economy grew by 0.7% in the first quarter of 2025, according to official figures released in London on 15 May.
- This growth followed predictions of slower expansion due to global trade tensions and new domestic taxes, with some uncertainty about the lasting effect.
- The increase was driven mainly by the services sector and manufacturing output, including a 4% rise in water supply, surpassing the expected 0.6% growth.
- Finance Minister Rachel Reeves highlighted the recent data as evidence of the UK economy’s resilience and opportunities, although economists warned that this improvement could be temporary.
- Despite this boost, economists and the Bank of England foresee a slowdown in the coming months due to tariffs, price rises, and global economic uncertainty.
107 Articles
107 Articles
Trump tariffs set to threaten UK economy despite surprise growth boost
DONALD Trump’s tariffs will blow our economy off course — despite faster than expected growth this year. The levies and Chancellor Rachel Reeves’ £25billion tax raid on business will stop momentum in its tracks, experts warn. Experts have warned that Rachel Reeves’ joy will be short-lived as the impacts of tariffs and her own tax hikes have yet to hitPA GettyExports surged 3.5% as firms rushed orders to dodge looming US tariffs, experts warn[/…
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