UK GDP increased by 0.1% in Q1

UK economy avoids recession but still vulnerable to further inflationary pressures

Elliot Gulliver-Needham
clock • 2 min read
The ONS said there had been no growth in household consumption throughout the quarter
Image:

The ONS said there had been no growth in household consumption throughout the quarter

The UK recorded a 0.1% increase in GDP in Q1 according to the Office for National Statistics (ONS), which has revealed the fragile economic conditions of the country.

The ONS reported today (12 May) that GDP fell by 0.3% in March, which when combined with 0.5% growth in January and flat growth in February, matched the 0.1% growth from the final quarter of 2022. ...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Industry

News Digest: Public sector pension liabilities hit £5.8trn; AMP to pay £59m to settle class action over fees

News Digest: Public sector pension liabilities hit £5.8trn; AMP to pay £59m to settle class action over fees

PP brings together all the latest news on pensions from across the national and financial media

Professional Pensions
clock 15 September 2025 • 1 min read
Professional Pensions: Stories of the week

Professional Pensions: Stories of the week

GSAM appointed by Shell to run OCIO pensions brief, LCP warns against Budget pensions tax relief raid, Utmost publishes half-year results

Professional Pensions
clock 12 September 2025 • 1 min read
Outlook 'less than rosy' as UK GDP flatlines in July

Outlook 'less than rosy' as UK GDP flatlines in July

Tough decisions ahead for the chancellor

Michael Nelson
clock 12 September 2025 • 2 min read
Trustpilot