UK GDP falls by 0.1% in May 'increasing chances' of August rate cut

Second monthly decline in a row, but lower than April's 0.3% decline

Sorin Dojan
clock • 3 min read
The May contraction followed another 0.3% decline the month before, with the overall GDP levels forecast to have increased by 0.5% in the three months to May, according to data from the Office for National Statistics today (11 July).
Image:

The May contraction followed another 0.3% decline the month before, with the overall GDP levels forecast to have increased by 0.5% in the three months to May, according to data from the Office for National Statistics today (11 July).

Industry professionals have reacted with disappointment to the latest monthly UK GDP figures for May, which showed the economy contracted by 0.1%.

The May contraction followed another 0.3% decline the month before, with the overall GDP levels forecast to have increased by 0.5% in the three months to May, according to data from the Office for ...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Industry

Obituary: Andrew Warwick-Thompson

Obituary: Andrew Warwick-Thompson

The industry remembers a man of ‘tremendous integrity’ with a ‘passion for making a real difference’

Jonathan Stapleton
clock 27 August 2025 • 2 min read
Pensions minister Torsten Bell to take on additional Budget responsibilities

Pensions minister Torsten Bell to take on additional Budget responsibilities

Bell will look at economic policy and help lead preparations for chancellor’s Autumn Budget

Jonathan Stapleton
clock 27 August 2025 • 1 min read
News Digest: Handover of £233m teachers' pensions contract delayed

News Digest: Handover of £233m teachers' pensions contract delayed

PP brings together all the latest news on pensions from across the national and financial media

Professional Pensions
clock 27 August 2025 • 1 min read
Trustpilot