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

“A modest increase in GDP is an encouraging sign that the UK economy continues to demonstrate resilience despite ongoing uncertainty.

“The IMF’s recent upgrade to its growth forecast reinforces that positive picture. However, stronger growth does not automatically mean immediate relief for households.

“Inflation and higher living costs remain a challenge for many families, while stronger economic data could support the case for interest rates staying higher for longer.

“With the Budget approaching, reviewing finances, making the most of competitive savings rates and maintaining a long-term approach to saving and investing can potentially help UK households build greater financial resilience.”