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UK economic output expanded by 0.5% in May.


L.A.T.1961
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A Reuters poll of economists had pointed to zero growth in May from April.

“The surprisingly strong rise in GDP in May might encourage the Bank of England to raise interest rates by 50 basis points, rather than 25 basis points, at its next policy meeting.

https://www.cityam.com/economic-green-shoots-to-coax-bank-of-england-into-steepest-rate-rise-since-independence/

 

 

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The UK economy bounced back in May after shrinking in April and March, figures from the Office for National Statistics show.

Following a decline of 0.2% in April, GDP expanded by 0.5% for the month, which was greater than the flat growth that most economists had predicted. 

All main sectors contributed positively to growth in May, said Darren Morgan, ONS director for economic statistics. Health was the biggest driver with many more people seeing GPs, despite test and trace and the vaccination programmes winding down.

"Road hauliers also had a busy month, while travel agencies fared well with pent up demand for summer holidays," he said. "There was widespread growth across manufacturing after several tough months, while construction also fared well with housebuilding and office refurbishment driving growth."

https://www.investmentweek.co.uk/news/4052940/uk-economy-rebounds-growth

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Corona rebound hidden by high inflation due to sanctions.

While we are doing well, US will be in recession when its figures come out. A lot of the EU too that needs to import most of its fuel.

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