Economic update

The first official estimate for Q1 2018 growth in UK GDP revealed that the UK economy grew by 0.1% in the first quarter of 2018, down from growth of 0.4% recorded in the previous quarter. UK public sector net borrowing (excluding the public sector banks) totalled £42.6 billion in 2017/18, £3.5 billion lower compared with the previous financial year.

According to the first official estimate, the US economy grew by an annualised rate of 2.3% in Q1 2018, lower than the growth of 2.9% recorded in previous quarter. 


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