The U.K. economy grew at a stronger pace in the first quarter of the year ahead of the escalation of geopolitical tensions in the Middle East that triggered supply disruptions and a surge in crude oil price.
Gross domestic product increased 0.6 percent sequentially, following the fourth quarter's 0.2 percent expansion, the Office for National Statistics said. The rate matched economists' expectations.
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Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.