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).
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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 ...

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