The UK economy experienced a significant rebound in Q1, growing by 0.7% quarter-on-quarter, primarily driven by a 5.9% increase in business investment. This surge in growth occurred amidst a temporary bounce in export volumes after three quarters of decline, linked to pre-tariff activities related to President Trump's April 2 announcements. However, analysts caution that upcoming tariffs may suppress growth in the future, and while a recent UK-US trade deal offers some hope, overall growth is projected to be just over 1% for the year.
The UK economy expanded by 0.7% quarter-on-quarter in Q1, marking its fastest pace of growth in a year.
Despite being scaled back, [tariffs] are expected to weigh on growth in the months ahead.
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