CBI responds to latest GDP data for May 2025

Ben Jones, CBI Lead Economist, said: 

“Flatlining growth in May highlights the ongoing pressures facing the UK economy, with manufacturing and retail struggling, alongside a patchy performance across other parts of the services sector.  

“Today’s data suggests that a sluggish recovery remains the likeliest path in the near-term amid persistent trade uncertainty, a loosening labour market and slowing growth in real incomes. And with business costs rising, many firms are maintaining a cautious approach to investment. 

“With growing fiscal challenges and the Autumn Budget on the horizon, the Chancellor must provide clear reassurance—no new taxes on business and instead offer a commitment to work alongside firms to dismantle barriers to growth. An open and collaborative partnership between business and government is crucial to deliver the conditions for sustained economic growth.”