UK Economy Rebounds by 0.3% in May, Service Sector Drives Growth

The United Kingdom's economy saw a 0.3% expansion in May, according to new figures. This modest growth follows a 0.2% contraction recorded in April, signalling a slight rebound. The services sector was the primary driver of this increase, growing by 0.5%.

Economists had anticipated a 0.4% rise for May. Despite the month's growth, the UK economy remains stagnant over the three months leading up to May. Several sectors registered declines, including construction, which contracted by 0.2%, and manufacturing, which saw a 0.1% decrease.

A previous Bank of England forecast suggested zero economic growth for the current quarter. However, the latest data might lead to a revised outlook for the UK's economic trajectory in the immediate term.