The UK economy grew twice as much in May as analysts were expecting
Shoppers hitting the high street contributed to the UK’s growth in May The Office for National Statistics said gross domestic product increased by 0.4 per cent in May, representing a faster return to growth than many were expecting.
Economists had predicted that the UK’s GDP would grow by 0.2 per cent in May. It came after no growth was recorded in April when damp weather hit consumer spending. ONS director of economic statistics Liz McKeown said: “The economy grew strongly in May, with all the main sectors seeing increases.“Construction grew at its fastest rate in almost a year after recent weakness, with housebuilding and infrastructure projects boosting the industry.”
Responding to the news, Chancellor Rachel Reeves, said: “Delivering economic growth is our national mission, and we don’t have a minute to waste. “That is why this week I have already taken the urgent action necessary to fix the foundations of our economy to rebuild Britain and make every part of Britain better off. A decade of national renewal has begun, and we are just getting started.”
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