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The Guardian - UK
The Guardian - UK
Business
Jane Croft and Larry Elliott

Next PM likely to inherit improved economy after UK growth revised up

Economy United Kingdom Paul Dales G7 Office for National Statistics GDP Inflation
A blurred, speeding London overground train hurtles towards the skyscrapers of the City of London, including the Gherkin, as the sun rises in the background
The encouraging economic data comes less than a week before polling day. Photograph: mammuth/Getty Images

The UK economy grew at a faster rate than previously thought in the first quarter of 2024, handing the next prime minister an improved economic backdrop.

Gross domestic product (GDP) rose by 0.7% in the first three months of 2024, revised upwards by the Office for National Statistics from a first estimate of 0.6%.

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