UK Chancellor of the Exchequer Rachel Reeves. Photo: Oliver McVeigh/PA
Britain’s economy slowed less than expected between April and June after a strong start to the year, despite the shock of US trade tariffs and a weaker jobs market, offering help to finance minister Rachel Reeves in meeting her budget goals.
Official figures published yesterday showed that after an unusually strong 0.7pc expansion in the first three months of 2025, gross domestic product grew 0.3pc in the second quarter. That was above the 0.1pc forecast by the Bank of England and a Reuters poll of economists. Sterling rose slightly against the dollar after the data was released.
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