What was the UK's GDP growth in March 2026, and how did it compare to forecasts and prior months?

The UK's GDP grew by 0.3% in March 2026, according to the Office for National Statistics (ONS), which was significantly better than economists' forecast of a 0.2% contraction. This followed a revised 0.4% rise in February (originally estimated at 0.5%) and 0% growth in January (originally estimated at 0.1%).

What sectors drove first-quarter 2026 GDP growth, and what sign of consumer caution emerged?

First-quarter 2026 GDP growth of 0.6% was led by broad-based increases across the services sector, with computer programming and advertising industries performing particularly well, and construction returning to growth; however, sports activities, amusement and recreation activities fell by 2.2%, suggesting consumers are cutting back on discretionary spending amid fears of higher inflation.

UK Economy Records Surprise 0.3% Growth Amidst Iran War Oil Shock

May 14, 2026

UK GDP unexpectedly rose 0.3% in March, defying fears of contraction from the Iran war. However, soaring oil prices and energy supply shocks threaten future inflation, prompting Bank of England warnings on interest rates.

theguardian

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