London – The British economy increased at its fastest rate in a year during the first quarter of 2025, official figures showed Thursday, in a welcome boost to the Labor government, which made the increase in the country’s growth in the country.
The Office for National Statistics said that growth, as measured by the gross domestic product, increased by 0.7% in the first quarter of the year compared to the last three months of 2024, the dominant services sector of the country being particularly well.
The increase in the first quarter made the British economy the fastest growth among the group of seven most important industrial nations.
Growth was modestly ahead of market expectations for an increase of 0.6%. It was also the highest increase in the first quarter of 2024, when the economy developed by 0.9%.
The head of the treasure, Rachel Reeves, praised the growth jump and said that the figures showed that the choices made by work since his elected official last July began to bear fruit.
“We are about to be the fastest growth in G-7 in the first three months of this year and it is incredibly welcome, but I know there is no more to do,” she said during a visit to a Rolls-Royce factory in Derby, in northern England.
Most economists believe that the slowdown in the second quarter of the year is likely to slow down, in part because of the global uncertainty generated by the pricing policies of US President Donald Trump.
Although most of the prices were interrupted for 90 days of the market disorders that followed, including the reference rate of 10% applied to British goods entering the United States, the backdrop of the global economy remains very uncertain, especially if the American-Chinoise trade war persists.
Part of this uncertainty, with regard to the British economy, raised Thursday when Trump and British Prime Minister Keir Starmer described separately the details of a trade agreement between the United States and the United Kingdom, although Trump has kept the basic rates by 10% on the United Kingdom, he agreed to reduce levies on British cars, steel and aluminum.
Sanjay Raja, British chief economist in Deutsche Bank, said that the increase in growth will probably be short -lived, especially in the second quarter, when commercial uncertainty is at its peak.
“Exporters will likely see a reduction in demand for higher American prices and lower global demand,” he said.
Economists have said that growth will probably vacillate in the second quarter, as new business taxes have been imposed in April. It should also that a price price for price increases increases during the month, including inner energy and water bills, should maintain a lid on consumer demand.
