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UK economy returns to growth in May

Services led a 0.1% monthly rise, but production and construction fell as energy price pressures from the Middle East conflict weighed on activity.

  • The UK economy grew by 0.1% in May following a 0.1% contraction in April caused by inflation linked to the US-Iran war.
  • The Office for National Statistics reported the May growth was due to a 0.3% rise in services output.
  • ONS director Liz McKeown said GDP growth in May was driven solely by services, while production and construction declined.
  • The OECD forecasted UK GDP growth to slow to 0.9% in 2024 from 1.4% in 2025, then to rise to 1.1% the following year.
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BizToc broke the news on Thursday, July 16, 2026.
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