GDP recovers with 0.3% growth in May

Industry News | 10/07/19

UK GDP grew by 0.3% in the three months to May 2019 following negative growth in April, according to the latest ONS statistics. Both the services and production sectors grew by 0.3% in the three months to May, contributing positively to headline growth. However, construction growth was flat over the same period, with zero contribution. Despite these industries performing well in recent periods, the ONS notes that there has been a notable slowdown in services growth since July 2018. Additionally, rolling three-month growth was 0.3%, the second consecutive slowing in growth since the 0.5% recorded in Q1.

Source: Financial Reporter