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The Latest Breaking News from GDP

Why has the UK economy grown and what impact do tariffs have?

Here, the PA news agency looks at why GDP has increased and what’s next for the UK economy.

The Independent UK

GDP rise and a less scary outlook offer Rachel Reeves some rare cheer

After two sickly quarters, upbeat growth data and UK trade deal with US paint brighter picture

The Guardian - UK

'We’ll make you better off,' says Labour as Keir Starmer hails UK 0.7% GDP growth as fastest in G7

The economy in the UK grew faster than in the US, France, Germany, Italy, Japan and Canada

Evening Standard

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UK economy grows at fastest quarterly rate in a year in boost for Reeves

Gross domestic product (GDP) increased by 0.7% between January and March, the Office for National Statistics said.

Evening Standard

Economy shoots ahead at faster than expected 0.7% in first quarter

But spurt is likely to prove short lived, as taxes, bills and tariffs all kicked in during April

Evening Standard

FTSE 100 Live 15 May: Oil price slide dents index, GDP growth beats hopes

Weaker oil stocks and a mixed set of corporate results today ensured the FTSE 100 index failed to benefit from the UK's move into the fast lane of economic growth.

Evening Standard

US recession still possible, Jamie Dimon warns, as UK tops G7 growth table – as it happened

UK economy posts its fastest quarterly growth in a year, outpacing rivals, in growth spurt ahead of trade war disruption

The Guardian - UK

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Republican Reconciliation Package Will Lead to $3 Trillion Annual Deficits

A new analysis from the Committee for a Responsible Federal Budget estimates that the national debt will equal nearly 130 percent of GDP by 2034.

Reason

UK economy expected to have grown in first months of 2025

Official figures are forecast to show a bounce in the first quarter of the year, before April’s tax rises and Donald Trump’s tariff announcement.

Evening Standard

NATO Hatches Deal On Higher Spending To Keep Trump Happy

NATO foreign ministers meeting in Antalya from Wednesday will look to forge a compromise deal on ramping up defence spending as allies scramble to satisfy US President Donald Trump's demand to agree to five percent of GDP at a summit next month.

International Business Times

Trump wants to hear how allies plan to boost defence spending, NATO envoy says

Trump insists NATO members should commit to spending at least 5% of GDP on defence, but that would require investment at an unprecedented scale.

Euronews

EBRD cuts regional economic outlook as geopolitical tensions linger

Recent US tariffs and worldwide economic tensions are likely to contribute to subdued economic growth in several key European economies and regions.

Euronews

Berkshire Hathaway’s Cash Pile Hits $347 Billion: Enough to Buy 95% of S&P 500 Companies or the GDP of 100+ Nations

As Buffett’s pile of cash continues to grow, it’s now worth the GDP of over 100 countries, and he can now buy over 95% of the companies in the S&P 500.

Barchart

Dutch leader says NATO's chief insists allies should spend at least 3.5% of GDP on defense budgets

Dutch Prime Minister Dick Schoof says NATO’s chief wants the allies to agree to start spending at least 3.5% of GDP on their defense budgets at their summit next month

The Independent UK

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International Business Times

NATO Chief Seeks Defence Spending At 5% Of GDP By 2032: Dutch PM

NATO chief Mark Rutte wants member countries to agree at a summit in June to reach five percent of GDP on defence-related spending by 2032, Dutch premier Dick Schoof said Friday.

The Independent UK

FACT FOCUS: Trumps claims the US subsidizes Canada. Experts say the numbers don't add up

President Donald Trump falsely claimed during a meeting with newly-elected Canadian Prime Minister Mark Carney that the U.S. provides Canada with subsidies of about $200 billion

The Conversation

Europe is moving to reposition itself in Donald Trump’s new global order

The term that perhaps best describes the international impact of the first 100 days of Donald Trump’s second term is “disruption”. His tariff policy, his abolition of USAID, his questioning of the transatlantic alliance, and his attempted rapprochement with Russia have neither destroyed the liberal international order nor established anything…

Tom’s Hardware

Tariffs could increase tech prices by up to 70% and reduce GDP by $69 billion according to CTA report

U.S. tariffs enacted in April could raise tech product prices by 11% to 70%, slash consumer spending by $123 billion annually, and reduce GDP by $69 billion, according to a Consumer Technology Association report.

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Barchart

Dollar Falls and Gold Soars on US Trade Uncertainty

The dollar index (DXY00 ) Tuesday fell by -0.57%. The dollar was under pressure Tuesday because of concerns that US trade policies will lead to economic stagflation. Losses in the dollar accelerated after the US Mar trade deficit widened to a record high, a bearish factor for Q1 GDP. The...

Barchart

Dollar Under Pressure and Gold Soars from US Trade Policies

The dollar index (DXY00 ) today is down by -0.49%. The dollar is under pressure today because of concerns that US trade policies will lead to economic stagflation. Losses in the dollar accelerated after the US Mar trade deficit widened to a record high, a bearish factor for Q1 GDP....

Barchart

Trump’s New Budget Slashes $163 Billion in Non-Discretionary Defense Spending to Lowest Level Since the 1960s

President Trump’s $1.7 trillion budget proposal slashes domestic spending to its lowest share of GDP since the 1960s while prioritizing military, border security, and a sweeping tax reform agenda.

Euronews

Brussels sticks to €650bn defence spending estimate despite slow uptake of offered fiscal leeway

The €650 billion estimate it put forward in March, the Commission's spokesperson said on Friday, "is a ballpark figure, it's based on a set of assumptions".

Latin Times

Elon Musk's Grok AI Goes Against Trump's Hardline Immigration Policies

The AI founded by Tesla CEO Elon Musk provided a surprising answer to a user's question regarding the best policy for undocumented migrants in the U.S.

The Conversation

Whether GDP swings up or down, there are limits to what it says about the economy and your place in it

The Bureau of Economic Analysis released the latest U.S. gross domestic product data on April 30. In the first three months of 2025, it said, GDP contracted by 0.3%. The GDP growth rate captures the pace at which the total value of goods and services grows or shrinks. Together with…

The Independent UK

Companies are rushing to ship goods into the US ahead of tariffs. It’s masking the economic cliff

The U.S. GDP shrank in the first quarter, reflecting the import surge

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