UK GDP ekes out 0.1% growth in May
Monthly UK GDP rose 0.1% in May after a 0.1% decline in April, according to ONS data released today. The reading follows an unrevised 0.3% gain in March.
According to the Office for National Statistics (ONS), UK gross domestic product grew by 0.1% month-on-month in May. This follows an unrevised contraction of 0.1% in April and an unrevised expansion of 0.3% in March.
The marginal increase suggests the UK economy is struggling to build sustained momentum, with growth alternating between modest expansion and contraction over recent months. The data may influence Bank of England policy expectations, though the headline figure offers little clear directional signal for sterling.
Source: FXStreet Forex News