Online Reporter
The UK economy experienced its most significant growth in over a year at the start of 2025, official figures have confirmed, largely propelled by robust household spending.
According to the Office for National Statistics (ONS), gross domestic product (GDP) expanded by an unrevised 0,7 percent between January and March. While the overall quarterly figure remained unchanged, the ONS noted a slight upward revision to monthly growth in March, now standing at 0,4 percent, up from an initial estimate of 0,2 percent.
This strong performance follows zero growth recorded in January and a 0,5 percent expansion in February, both figures remaining unrevised.
Household spending was also revised up, from 0,2 percent to 0,4 percent, as the savings ratio fell for the first time in more than two years, to 10,9 percent over the quarter, as consumers dipped into their savings to spend.
The first-quarter growth figure — which was unrevised from the initial estimate — marks the highest GDP rate since the first quarter of 2024, when the economy jumped by 0,9 percent. It was also a significant improvement on the 0,1 percent growth seen in the final three months of 2024.
Liz McKeown, ONS director of economic statistics, said: “While overall quarterly growth was unrevised, our updated set of figures show the economy still grew strongly in February, with growth now coming in a little higher in March too.
“There was broad-based growth across services while manufacturing also had a strong quarter. “The saving ratio fell for the first time in two years this quarter, as rising costs for items such as fuel, rent and restaurant meals contributed to higher spending, although it remains relatively strong.”
Output grew by 0,7 percent in the services sector over the first quarter, while production also increased, by 1,3 percent, and the construction sector grew by 0,3 percent. — Independent
