Reeves content as UK economy grows at fastest rate in a year

ODN

The UK economy grew by 0.7% in the first three months of 2025, the fastest quarterly rise in a year, according to the ONS. Chancellor Rachel Reeves welcomed the boost, pointing to growth across services, manufacturing, investment and exports. She credited government efforts to restore stability, helping cut interest rates and secure new trade deals. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn

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00:00Today's numbers are incredibly welcome, 0.7% growth in just the first three months of this year.

00:06It's set to be the fastest growing economy in the G7.

00:10And you can see growth really across the piece, growth in services, growth in manufacturing,

00:15growth in business investment, exports, and also in household spending.

00:21I think that reflects some of the choices we've made as a government.

00:24It brings stability back to the economy, which has enabled the Bank of England to cut interest rates four times now.

00:30Increase the minimum wage, putting more money in the pockets of working people,

00:34and securing two significant trade deals just last week that protects thousands of jobs,

00:41but can also help create thousands more.

00:43Stability gives businesses the confidence to invest and has also given the Bank of England the confidence

00:48to be able to reduce interest rates after all the hikes in interest rates that we saw in the last parliament.

00:54And stability is the precondition, really, for a growing economy.

00:59Well, there's clearly economic headwinds, and the world is changing.

01:03We can see that all around us.

01:04But we are a strong economy.

01:06I do believe that we can seize the opportunities.

01:09The fact that we were the first country to secure a trade agreement with the United States is significant.

01:16And these numbers today are very welcome.

01:18And let's ensure that we have our economy.

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