GDP reaction: Too early to say economy has turned a corner, says IPPR

Reacting to today’s latest GDP figures, Dr George Dibb, head of IPPR’s Centre for Economic Justice, said:

“GDP growth has recovered but there are still flashing warning lights on the dashboard of the British economy. Today’s stats are broadly good news, with positive GDP growth above expectations. But we’ll need to repeat the trick and get many quarters of growth like this for this to feel like a sustained recovery for many people.

“The data show salaries growing but real wages are coming up on a two-decade squeeze, while higher prices for housing and on the weekly shop remain a concern for many households, and we still had the second lowest growth in the G7 in 2023. It's too early to say that the British economy has turned a corner.”