India, May 15 -- The U.K. became the fastest growing economy in the G7 league as the country logged the biggest economic expansion in a year in the first quarter that exceeded expectations, thanks to a shift in trade activity ahead of the imposition of higher tariffs by the U.S. Gross domestic product expanded 0.7 percent sequentially, following a 0.1 percent growth in the previous quarter, the first estimate from the Office for National Statistics showed on Thursday.
GDP was forecast to advance 0.6 percent. The latest growth was the strongest since the first quarter of 2024. In output terms, data showed that the growth was driven by an increase of 0.7 percent in the service sector. Industrial production grew 1.1 percent, within which manu...