Growth Returns But Firms Braced For Difficult Months Ahead

11th April 2025

Responding to the latest GDP data, published by the ONS this morning, Stuart Morrison, Research Manager at the British Chambers of Commerce said:

“The stronger than expected GDP rebound in February, and positive data for the three months, are welcome news. There was an encouraging story from both the services and manufacturing sectors. 

“However, businesses across the UK are under no illusion - significant sustained growth continues to remain elusive. 

“Events of recent weeks will have substantially changed the growth picture going forward. Businesses are now facing the double-edged sword of rising domestic costs, including the national insurance rise, and growing global trade uncertainty. However, it will be several months before we see the real impact on economic data.  

“In the search for growth, much will hinge on the upcoming industrial strategy. We also need to see urgent action by ministers on business rate reform, infrastructure and export support. Government should be doing all it can to help business navigate the choppy waters both at home and abroad.”