Encouraging growth figures for first quarter

Business leaders in Coventry and Warwickshire say the economic growth figures for the first three months of the year will boost confidence – but don’t mask the issues that firms across the region are facing. 

The latest GDP figures – the measure of economic output – showed the UK economy grew by 0.7 per cent in the first quarter of 2025. 

Corin Crane, chief executive of the Coventry and Warwickshire Chamber of Commerce, reflected on the better-than-anticipated figures. 

He said: “Few were forecasting such a strong start to the year and just seeing those growth figures will provide a lift after a long period of uncertainty and a very flat economic picture. However, we are now into the middle of May and I know from speaking to firms across the region that there all sorts of concerns around the cost of doing business and what impact weeks of instability around tariffs might have caused. 

“Fundamentally, we’ve got a really strong economy in Coventry and Warwickshire thanks to the fact we have got an incredible mix of businesses of all sizes and sectors, many of which are perfectly placed to meet the challenges of the future head on. 

“But they need the foundations from which to grow and if decision-makers can finally start to create a stable platform that encourages trade at home and abroad, then hopefully Coventry and Warwickshire companies can reap the benefit of that. That, in turn, would be great news for everyone in the city and the county because business growth should provide a boost to every community in the region.” 

Stuart Morrison, Research Manager at the British Chambers of Commerce said: “Better than expected Q1 growth of 0.7 per cent is evidence that the UK economy held up well at the start of the year, despite mounting headwinds. Strong performances in the services and production sectors are particularly welcome. However, context is crucial, as we’ve yet to see data showing the impact of the national insurance hike or the global tariff war."