British economic growth exceeds expectations in Q1

ISTANBUL

The British economy grew 0.7% quarter-on-quarter in Q1 of 2025, beating market expectations of 0.6%.


On a yearly basis, the British economy showed a 1.3% expansion, also beating market expectations of 1.2% growth, the Office for National Statistics (ONS) said on Thursday.


"Growth in Quarter 1 2025 was driven by an increase of 0.7% in the services sector, production also grew, by 1.1%, while the construction sector showed no growth," it said.

In expenditure terms, growth in the latest quarter was driven by increases in gross fixed capital formation, net trade, and household consumption.

Real household expenditures in the first quarter rose 0.2% quarter-on-quarter and 0.7% on an annual basis.

On a monthly basis, the UK's economy grew 0.2% in March.

The British economy grew 0.1% in the fourth quarter of last year and 0% in the third quarter on a quarterly basis.