News Summary

• UK economy expanded by 0.4%, in line with market expectations but below a 0.6% increase in the first three months of this year.
• The British economy is now 1.2% bigger than a year ago, the ONS said.
• Experts questioned whether this resilience would be maintained, given growth was fuelled by some temporary factors and energy prices could remain volatile.
• Prime Minister Andy Burnham has been warned by the Treasury that the UK economy may grow by just 0.9% this year and could be as low as 0.3% in 2027 if disruption in the Strait of Hormuz continues.