Britain’s recession is over as economy returns to growth in first quarter

The Bank’s monetary policy committee slightly upgraded its forecasts for GDP growth in 2025 and said inflation, 3.2 per cent in March, will be below its two per cent inflation target through 2026 and 2027. The economic news came after the Tories lost nearly 500 councillors in the May 2 local elections, the West Midlands mayoralty, the Blackpool South by-election, and Sadiq Khan easily beat Susan Hall.