UK economy grew faster than expected 0.7% in first quarter of year

The UK economy grew by 0.7 per cent between January and March, new official figures show.

Gross Domestic Product (GDP) grew faster than expected and at the fastest rate in a year over the first quarter of 2025, according to the Office for National Statistics.

The figures mark a boost to Chancellor Rachel Reeves, who said the growth figures showed the Government was “making the right choices” but acknowledged “there is more to do”.

She said: “Today’s growth figures show the strength and potential of the UK economy.

“In the first three months of the year, the UK economy has grown faster than the US, Canada, France, Italy and Germany.

“Up against a backdrop of global uncertainty we are making the right choices now in the national interest.

“Since the election we have already had four interest rate cuts, signed two trade deals, saved British Steel and given a pay rise to millions by increasing the minimum wage.

“Our plan for change is working. But I know there is more to do and that is why I’m determined we go further and faster to make working people better off.”

More follows on this breaking news story...