UK economy staggers
United Kingdom
UK economic growth slowed as US President Donald Trump’s tariffs hit and businesses grappled with higher costs, official figures show.
A measure of everything produced in the economy, gross domestic product (GDP), expanded just 0.3% in the three months to June, according to the Office for National Statistics (ONS).
UK economic growth slowed as US President Donald Trump’s tariffs hit and businesses grappled with higher costs, official figures show.
A measure of everything produced in the economy, gross domestic product (GDP), expanded just 0.3% in the three months to June, according to the Office for National Statistics (ONS).
It’s a slowdown from the first three months of the year when businesses rushed to prepare for Mr Trump’s taxes on imports, and GDP rose 0.7%.
The UK economy grew 0.3% between April and June
But it’s also a stronger showing than expected and relatively welcome news for Chancellor Rachel Reeves, whose government has staked its success on growing the economy.
Economists polled by Reuters had only anticipated GDP expansion of 0.1% across April to June.
The figure was better than anticipated after a strong June. Across the month, GDP rose 0.4%, surprising observers.
