UK economy records “welcome” GDP jump

Broken down, services output increased by 0.3% and was the largest contributor to monthly growth, while production output rose by 1.5% and construction output went up by 0.4%.

The National Institute of Economic and Social Research’s Hailey Low said the overall rise was "surprising but welcome positive news".

She added: "However, heightened global uncertainty and escalating trade tensions mean the outlook remains uncertain, with a likely reduced growth rate this year due to President Trump’s ’Liberation Day’ announcements.

"This adds complexity for the Chancellor, who, with limited fiscal headroom already, will face challenging decisions come the autumn."

Real GDP, meanwhile, is estimated to have grown by 0.6% in the three months to February 2025 compared to the three months to November, mainly because of growth of 0.6% in the services sector. Production sector output also rose in this period by 0.7%, while construction sector output showed no growth.

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