Britain’s high quarterly growth is an anomaly
From our UK edition
Is the economy not just resilient but flourishing in the wake of the Iran war? GDP in the three months ending April was 0.7 per cent higher than the preceding three months – the fifth reading where growth has accelerated, and the fastest pace of growth since May 2024. Unfortunately, this strength won’t continue. Month-on-month growth has been falling since February, and the economy shrank 0.1 per cent in April alone, down from 0.3 per cent growth in March. Services, which are about three-quarters of economic output, fell by 0.2 per cent, production was flat and construction grew by 0.1 per cent.