Overview

• The UK economy grew by 0.5% in February 2025, outperforming economists' expectations of 0.1% growth, according to the ONS.
• Growth was driven by widespread strength across services and manufacturing, with manufacturing output rising by 1.5%.
• January's GDP figures were revised upward by the ONS, showing flat growth instead of the previously reported 0.1% contraction.
• Exports to the US surged by £500 million in February as businesses rushed to ship goods before Donald Trump's trade tariffs took effect.
• Chancellor Rachel Reeves welcomed the growth but warned of potential economic challenges from ongoing global trade tensions and rising costs for businesses and consumers.