UK GDP falls back in April as global uncertainty weighs on growth

Any hopes of a sustained economic rebound have been dealt a setback by today's figures, which point to a renewed loss of momentum.

Businesses are contending with a difficult combination of higher employment costs, elevated taxes and ongoing global trade uncertainty. At the same time, revived tensions in the Middle East are creating fresh risks through energy markets, adding to cost pressures and increasing volatility across the global economy.

The recent political turmoil in the UK is adding a further layer of uncertainty at a time when businesses are already facing tough decisions around investment and growth.

With confidence under pressure both at home and abroad, creating a stable environment for businesses to invest, trade and expand will be critical to supporting the UK's growth outlook.

We would urge businesses to prioritise resilience in this challenging landscape – whether that’s through hedging against FX risk, maximising operational efficiencies or ensuring access to flexible finance options.