May GDP Rebounds; Could Eek Out Growth in...>

UK DATA: May GDP Rebounds; Could Eek Out Growth in Q2

-UK May GDP +0.3% m/m; +0.3% 3m/3m vs -0.4% m/m in April

-UK May Services +0.0% m/m vs upwardly-revised +0.1% in April

-UK May Manufacturing +1.4% m/m vs -4.2% in April

-UK May IoP +1.4% m/m vs -2.9% in April

-UK May Construction +0.6% m/m vs -0.5% in April

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UK GDP rebounded in May, in line with the MNI median forecast, 

lifted by a resumption of car production. Motor vehicle output jumped by 

24%, according to an ONS official, reversing a 24% slump in April -- 

both highest on record. Manufacturing output contributed 0.14 percentage 

points to the rise in monthly GDP.  In light of the April rebound, GDP 

could expand in Q2 if the economy expands by more than 0.1% in the month 

of June. Bank of England staff forecast no growth in Q2, but many 

private economists had been predicted a contraction ahead of Wednesday's 

data release.