The UK’s gross domestic product (GDP) grew by 0.4% in May, the Office for National Statistics (ONS) said on Thursday, after stagnating in the previous month.
The services sector grew 0.3% in May, after rising 0.3% in April, while the manufacturing sector advanced 0.2%, after increasing 0.9% in April. The construction sector grew 1.9% in May, compared with a decline of 1.1% in the previous month.
UK gross domestic product grew by 0.9% in the three months to the end of May, compared with the previous quarter, according to revised data from the Office for National Statistics.
“Over the past three months, the economy as a whole has grown at its fastest pace in over two years, with strong growth in services partly offset by weaker long-term performance in construction,” said the ECB’s director of statistics, ONS.
“Many retailers and wholesalers had a good month and recovered from a weak April,” Liz McKeon added.
Reacting to the data, new UK finance minister Rachel Reeves said that “ensuring economic growth” was the “national task” and that there was no time to waste.
“That is why this week I have already taken the urgent steps needed to lay the foundations of our economy and rebuild the UK,” he added.
The leader, who took over the country’s economy after Labour won the British general election on July 4, stressed that “a decade of national renewal has begun and we are only just beginning.”
Emily Brontë is a journalist and feature writer specialising in culture, entertainment, literature, and current affairs. She is dedicated to producing clear, accurate reporting that helps readers stay informed about developments in the UK and around the world.
