UK Economy Bounces Back in May, With Grow Recorded Across Sectors

Chancellor Rachel Reeves has said that delivering economic growth was Labour’s national mission. The UK economy has bounced back in May, with growth reported across services, retail and construction, according to the Office of National Statistics (ONS). All three main sectors—services, production and construction—contributed positively to GDP growth in May. Services were up by 0.3 percent, while production and construction output also increased by 0.2 percent and 1.9 percent, respectively. “When considering growth to May 2023, it is worth noting that there was an additional bank holiday for the coronation...