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Economics

UK economy returns to growth in May

The modest growth reverses a slight contraction that had been seen the previous month.

The UK's economy saw a return to growth in May, expanding by 0.1%, according to the latest official figures. This modest uptick was primarily driven by an increase in the nation's service sector, though it was partially offset by downturns in the production and construction sectors, the Office for National Statistics (ONS) reported. This positive development follows a slight contraction in April, a period when businesses began to experience the impact of the US-Israel war with Iran. Furthermore, the ONS stated that over the three months leading up to May, the economy grew by 0.7% compared to the preceding three-month period.

economic recoveryuk economyons dataservice sectorgdpmay economyeconomic growth

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