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

FRC issues updated actuarial standard to support expansion of CDC

FRC issues updated actuarial standard to support expansion of CDC

Standard will be effective for technical actuarial work completed on or after 31 July

Holly Roach
clock 10 July 2026 • 1 min read
Professional Pensions: Stories of the week

Professional Pensions: Stories of the week

PPF annual report, VLK DB research, Nest pay gap report

Professional Pensions
clock 10 July 2026 • 1 min read
PPF: Beating benchmarks, AI caution and understanding surplus extraction

PPF: Beating benchmarks, AI caution and understanding surplus extraction

Acting CEO Richard Beaven says the lifeboat fund ‘beat our benchmarks once again’

Holly Roach
clock 10 July 2026 • 5 min read
Trustpilot