The UK Office for National Statistics confirmed on Tuesday that the United Kingdom’s GDP grew by 0.3% during the period from April to June 2025, in line with preliminary estimates and Reuters survey forecasts.

The office also confirmed a slowdown in GDP growth to 0.3% in the second quarter, down from a strong 0.7% growth in the first three months of the year, matching economists’ expectations.

GDP per capita rose by 0.2%.

Data showed that the UK economy was the fastest growing among the G7 economies during the first half of the year, although part of this growth was driven by exceptional factors such as a surge in exports ahead of the implementation of US tariffs. The Bank of England expects the economy’s growth for the entire year 2025 to be around 1.25% only.

The report indicated that GDP in the second quarter was 1.4% higher compared to the same period last year, revised up from 1.2%, while per capita GDP increased by 0.9%. Meanwhile, GDP growth for 2024 remained unchanged at 1.1%.

On the current account front, a deficit of £28.94 billion ($38.8 billion) was recorded in the second quarter, exceeding expectations of £24.9 billion, equivalent to 3.8% of GDP, up from 2.8% in the first quarter.

Separately, the UK Office for National Statistics announced an increase in household savings rates in the second quarter, indicating continued caution amid rising inflation rates and uncertain economic forecasts, according to Bloomberg News.

Bloomberg quoted the office as saying that the share of disposable income saved by consumers rose from 10.5% in the first quarter to 10.7% in the second quarter.

The Office for National Statistics said government spending helped support the economy during a difficult period when households faced pressure from rising inflation and businesses were hit by higher employment taxes and US tariffs.