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MNI BRIEF: UK GDP Boost In May, With 3-Month Growth At 2-year High

May bounceback in services sector helps UK economy record solid burst of growth

MNI (LONDON) - The UK economy grew by 0.4% in May 2024, picking up from a month of no growth in April, the latest data from the Office for National Statistics showed Thursday.

GDP is estimated to have grown by 0.9% in the three months to May 2024 compared with the three months to February 2024, the ONS said, driven by a growth of 1.1% in services output. The data was largely inline with Bank of England expectations and is unlikely to shift the needle in upcoming policy discussions.

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MNI (LONDON) - The UK economy grew by 0.4% in May 2024, picking up from a month of no growth in April, the latest data from the Office for National Statistics showed Thursday.

GDP is estimated to have grown by 0.9% in the three months to May 2024 compared with the three months to February 2024, the ONS said, driven by a growth of 1.1% in services output. The data was largely inline with Bank of England expectations and is unlikely to shift the needle in upcoming policy discussions.

Keep reading...Show less