Kevin Brown, savings specialist at Scottish Friendly comments on UK GDP rise

Given the headwinds facing the UK economy, it’s a surprise that it is managing to eke out any growth at all. The past two months have been tumultuous due to tensions in the Middle East and, as a highly open economy, the UK is particularly exposed to the fallout.

When you add domestic political instability into the mix, it creates a toxic combination that drags on growth and discourages investment in the UK. The fact the economy still grew by 0.3% in March suggests that, despite everything, the UK economy remains resilient – even if growth is still falling short of the levels many would like to see.

While tensions in the Middle East appear to have eased recently, recent history suggests households should continue to expect the unexpected. The best course of action is to make sure your finances are resilient enough to withstand a prolonged period of uncertainty. That means building a financial buffer and ensuring your money is working as hard as possible, whether that’s shopping around for a better savings deal or investing some spare cash for the potential of higher long-term returns.