Home›Forex›Central Banks›UK May GDP ekes out marginal growth, helped by service…

UK May GDP ekes out marginal growth, helped by services rebound

May monthly GDP rose 0.1% as services output gained 0.3%, while three month running growth held at 0.7%.

Reported · Written up by our desk · Central Banks

UK economic data showed marginal growth for May, with GDP rising 0.1% month over month, matching expectations and rebounding from the prior reading of -0.1%, according to Forexlive.

The report attributed the gain largely to a rebound in services output, which increased 0.3% versus 0.1% expected, after previously falling -0.2%.

Other components were mixed, with industrial output down -0.5% versus -0.1% expected, while manufacturing output rose 0.1% versus -0.2% expected.

Looking beyond the month, the three month running monthly GDP estimate increased 0.7% versus 0.5% expected, and the outlet said inflation has dipped back under 3%, though risks remain amid ongoing US Iran conflict and domestic cost of living and fiscal concerns.

More like this

Sources