Brief by Shorts91 Newsdesk / 06:34pm on 15 May 2025,Thursday International
The UK economy grew 0.7% in the first quarter of 2025, surpassing forecasts and marking a strong start to the year, according to the Office for National Statistics. Growth in March alone hit 0.2%, defying expectations of no change. Finance Minister Rachel Reeves highlighted the UK’s performance as stronger than the U.S., Germany, and other G7 nations. However, rising employer taxes and new U.S. trade tariffs pose challenges ahead. Business investment rose by 5.9%, the highest in two years, while consumer spending also increased. Analysts warn the growth may be short-lived as global uncertainty and fiscal pressures build. (PC: Reuters)
