Figures released by the Office for National Statistics (ONS) show that the UK economy grew by 0.7% between January and March. This is higher than the initial estimate of 0.6%, indicating a stronger-than-expected emergence from recession.

These figures position the UK as the fastest-growing economy among the G7 in the first quarter of 2024. This quarter’s growth is also the highest since 2021, suggesting a positive outlook for the economy in the coming months.

Increases in GDP are viewed positively as they usually indicate higher spending, leading to desirable outcomes such as job creation, better pay rises for workers, and increased tax revenue for the government – https://www.bbc.co.uk/news/articles/c6p2r9xzde4o