UK economy rebounds with 0.5% growth in May

All main sectors saw positive growth

Valeria Martinez
clock • 2 min read

The UK economy bounced back in May after shrinking in April and March, figures from the Office for National Statistics show.

Following a decline of 0.2% in April, GDP expanded by 0.5% for the month, which was greater than the flat growth that most economists had predicted.  All main sectors contributed positively to growth in May, said Darren Morgan, ONS director for economic statistics. Health was the biggest driver with many more people seeing GPs, despite test and trace and the vaccination programmes winding down. "Road hauliers also had a busy month, while travel agencies fared well with pent up demand for summer holidays," he said. "There was widespread growth across manufacturing after several tough m...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Economics

Trustpilot