UK economy grows 0.1% in May after April decline
Official figures show the British economy edged up in May, offsetting a small fall recorded the previous month.
The UK economy expanded by 0.1% in May, according to the Office for National Statistics, after shrinking by the same amount in April. The reading matched economists’ expectations and came despite higher energy costs linked to the Iran war.
The ONS said the monthly increase in gross domestic product was modest but marked a return to growth after the previous contraction. The figures suggest activity recovered slightly at the start of the second quarter.
Energy prices were among the pressures affecting the economy during the period, with the conflict in Iran feeding through to costs. The latest data add to the picture of a fragile recovery in Britain’s economy.
The release comes as policymakers and businesses continue to watch for signs of whether growth can hold up through the summer.
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