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CBI responds to February 2025 GDP data
Martin Sartorius, Principal Economist, CBI, responds to February 2025 GDP data
“UK GDP growing above expectations in February provides some hope that the economy may have seen a solid expansion over the first quarter, following a soft patch in the second half of last year. However, underlying momentum in the private sector remains feeble. Many firms are grappling with higher labour costs following the Autumn Budget, and the recently announced US tariffs are expected to weigh on the UK and global economies.
“Businesses are clear that the government should try to avoid further escalation in trade tensions, and instead double down on its commitment to free, fair, and open trade. However, firms also need further measures to bolster confidence amid a tough and uncertain operating environment.
“By adopting a whole-economy perspective and using this opportunity to explore ways to ease existing pressures on businesses – such as implementing smarter regulation or revisiting the Employment Rights Bill – the government can help kickstart growth, foster innovation, and boost productivity.”
