Britain: The economy was developed more than expected in the first quarter of the year

London, Yiannis Haniotakis

The United Kingdom’s economy has recorded positive growth rates during the first three months of this year, according to official data released today by the National Statistical Service (ONS).

The gross domestic product (GDP) increased by 0.7% in January – March, a performance exceeded the expectations of economists, which predicted a rise of 0.6%.

On a monthly basis, in March, a 0.2% increase in GDP was recorded, with the services sector being one of the main growth levers.

The Minister of Finance Rachel Reevescommenting on the details, argued that they confirm ‘The power and capabilities of the UK economy’ and that in the midst of global uncertainty “We make the right choices in the national interest.”

However, analysts are sounding the alarm for the next period due to the global challenges and the duties imposed by the Donald Trump government.

Today’s Growth Figures Show the Strength and Potential of the UK Economy.

Against a backdrop of Global Uncerty we are making the right choices in the National Interest.

But there is more to do, we will go further and faster to make Working People Better Off.

– Rachel Reeves (@rachelreevesmp) May 15, 2025

For his part, shadow Finance Minister Mel Strade said that “the workers have inherited the fastest growing economy in the G7, but their decisions endanger this progress.”