30/06/2025 06:40
The Guardian
UK-US trade deal kicks in today, lowering tariffs for British carmakers and aerospace sectorRuth Gregory, deputy chief UK economist at Capital Economics, warns that there is little underlying momentum in the economy, as more recent data suggests.GDP growth was unrevised at 0.7% q/q in Q1, but we already know this strength has started to unwind. The underlying picture is still that there is very little momentum in the economy.Growth was a bit less dependent on a likely one-off surge in business investment in Q1 than previously estimated. That was revised down, from 5.9% q/q to 3.9% q/q. What’s more, consumer spending growth was revised up a notch, from 0.2% q/q to 0.4% q/q.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. Continue reading...
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