The UK economy rebounded in May as car factories resumed work following Brexit-related shutdowns.
GDP rose 0.3% after a decline in the previous month, the Office for National Statistics said Wednesday. The increase was in line the forecast in a Bloomberg survey. In the three months through May, GDP rose 0.3%, more than expected, after past figures were revised up.
Manufacturing, which slumped 4.2% in April, rose 1.4% in May; vehicle production jumped but remains lower than levels seen at the start of the year. Total industrial production also increased 1.4%. Construction gained 0.6% m/m; services output was flat. GDP rose 0.3% in the three months through May vs 0.4% in the period through April; gained 1.5% in May from a year earlier.
Source : Bloomberg