Updated quarterly GDP confirms UK was fastest-growing economy in G7 with consumer confidence returning

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The UK economy grew at a faster rate than previously thought in the first quarter of 2024, handing the next prime minister an improved economic backdrop.

Gross domestic product (GDP) rose by 0.7% in the first three months of 2024, revised upwards by the Office for National Statistics from a first estimate of 0.6%.

Those who voted leave still feel ignored and marginalised. The pressure will be on for Labour to boost growth and narrow regional divides

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It is one of the oddities of this weirdest of election campaigns that the issue that helped give the Conservatives an 80-seat majority in 2019 has barely been mentioned. As far as the main parties are concerned, Brexit is a done deal. The decision has been made. Time to move on.

To be sure, much has happened since 2019, most notably a global pandemic, a cost of living crisis and the brief – yet drama-packed – premiership of Liz Truss. Making ends meet features more prominently in voters’ lists of concerns than whether the UK should rejoin the single market.

Larry Elliott is the Guardian’s economics editor

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