<\/p>\n
Preliminary estimates from the UK Office for National Statistics showed that UK GDP shrank by 0.1% in May, compared to a 0.3% decline in April, confounding expectations of a 0.1% contraction.
\nThis reading is expected to see the UK economy grow by 0.5% in the three months to May.
\nProduct output fell by 0.9% in May after a 0.6% decline in April, the largest contributor to the decline in GDP in May. However, it rose by 0.2% in the three months to May. The construction sector fell by 0.6% after growing by 0.8% in April, revised down from 0.9%.
\nThe services sector, which accounts for more than 70% of the UK economy, grew by 0.1% in May, compared to a 0.3% decline in April, revised down from 0.4%.<\/p>\n
<\/p>","protected":false},"excerpt":{"rendered":"
Preliminary estimates from the UK Office for National Statistics showed that UK GDP shrank by 0.1% in May, compared to a 0.3% decline in April, confounding expectations of a 0.1% contraction. This reading is expected to see the UK economy grow by 0.5% in the three months to May. Product output fell by 0.9% in […]<\/p>\n","protected":false},"author":1,"featured_media":7670,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"nf_dc_page":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-7993","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-currency-markets"],"acf":[],"yoast_head":"\n