Kevin Brown, Savings Specialist at Scottish Friendly, comments on this morning's ONS GDP figures

Tentative improvement but sustained growth will be tough

“The latest GDP data points to a tentative improvement in the UK economy. However, a lot has changed in the month since the data was gathered. The US tariff uncertainty continues to destabilise economies around the world, and the UK is no exception, albeit much less than some. The ultimate impact for the UK is still unclear, however achieving sustained growth against this backdrop will be tough.

“Major economists continue to revise growth lower, with KPMG the latest group to cut its estimates. The uncertain trading environment is undoubtedly part of the problem, but the UK has some home-grown issues as well, including high energy costs which will continue to hurt UK households.

“This is an uncertain moment for the global economy. The UK is unlikely to be immune from the disruption to global trade. However, in spite of the volatility, the standard rule of thumb still applies when considering your savings and investments – think long-term and try not to get too distracted by short-term ups and downs. Regular savings and a long-term view could give you with the potential of building a financial cushion to see you through what lies ahead.”