According to the most recent ONS figures, monthly GDP grew by 0.4 per cent in March, following an upwards revision of GDP growth of 0.2 per cent in February, driven by increased output in services sectors. Looking at the broader picture, GDP grew by 0.6 per cent in the first quarter of 2024 relative to the last quarter of 2023, in which GDP contracted by 0.2 per cent. This quarterly growth figure is the highest recorded since May 2022. In our latest GDP tracker, my colleague Hailey noted that the strong GDP data for March and the first quarter of 2024 were encouraging, especially in the context of contracting GDP ... (full story)