UK economy returns to growth in May
Summary
The UK economy grew by 0.1% in May, according to official data. This small growth was mainly due to the service sector expanding, while production and construction sectors shrank.Key Facts
- The UK economy increased by 0.1% in May.
- Growth came mostly from the service sector.
- Production and construction sectors decreased.
- In April, the economy had slightly shrunk.
- The April contraction was linked to the impact of the US-Israel war with Iran on businesses.
- Over the three months to May, the economy grew by 0.7% compared to the previous three months.
- The data was reported by the Office for National Statistics (ONS).
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