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UK economy expands by 0.4% in May, double the expected pace

Bloomberg
Bloomberg • 1 min read
UK economy expands by 0.4% in May, double the expected pace
The UK’s economic recovery gathered momentum in May, an early boost to the new Labour government. Photo: Bloomberg
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The UK’s economic recovery gathered momentum in May, an early boost to the new Labour government as it rushes to revive the country’s growth prospects.

Gross domestic product rose 0.4% m-o-m in May after the flat reading in April, the Office for National Statistics said on Thursday. It was double the 0.2% pace economists had expected, reflecting the fastest expansion in construction in almost a year.

The figures put Britain on course for another solid quarter of growth, continuing a recovery from recession that Labour wants to turbocharge with a blitz of growth-boosting policies. 

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