The latest GDP figures – the measure of economic output in the UK – showed growth of 0.6 per cent in the first quarter, including 0.3 per cent for the month of March alone.

Corin Crane, the chief executive of the Coventry and Warwickshire Chamber of Commerce, said the figures reflected what businesses were saying at the start of the year.

He said: “There was a real feeling as we began 2026 that businesses were ready to put years of uncertainty behind them and really start to invest and grow.

“And, when you see the latest GDP figures, it appears that what our members were saying is correlating directly with the statistics.

“We know that businesses in Coventry and Warwickshire are incredibly resilient and firms of all sizes and sectors have contributed to this growth.

“The concern is that these figures don’t reflect the full extent of the fall-out of the war in the Middle East and, therefore, it’s not clear how the next quarterly statistics will be affected.

“We’ve also got our own political uncertainty in the UK which, again, could weigh on our economy.

“Our latest quarterly economic survey has just gone live so it will be very interesting to see how businesses are feeling as we look ahead to the summer.”

Stuart Morrison, Research Manager at the British Chambers of Commerce said: “Growth of 0.6 per cent in Q1, shows the initial optimism we heard from our members at the start of the year was well grounded. 

 “Meanwhile GDP rising by 0.3 per cent in March itself also suggests the continued resilience of business in the face of economic shocks. But firms are concerned the full impact of the Iran conflict will start to show in the coming months.  

“Firms are facing huge cost pressures. Our latest survey shows 73 per cent citing labour costs and 52 per cent citing energy costs as price drivers, even before the escalation in the Middle East. Business confidence remains low and firms are struggling to invest.  

“Recent domestic political uncertainty only adds to business concerns. But the firms we represent are not focused on personalities; they are interested in policies. Yesterday’s King’s Speech provided some positive signals for business, with a pledge to tackle late payments, simply trade and strengthen apprenticeships.  

“But the government must go further. To grow our economy in challenging times, ministers must deliver in partnership with business. That can only come through supporting investment, boosting productivity, and getting more firms exporting.”

To take part in the latest QES go to https://www.cw-chamber.co.uk/policy-business-representation/quarterly-economic-survey/