UK economy rebounds 0.5% in May: data

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Britain's economy rebounded in May, official data showed Wednesday, dampening fears of a slowdown despite surging inflation and rising interest rates.

Union Jack flag flies above a Unionist mural in Larne, Northern Ireland December 30, 2020. Picture taken December 30,2020. REUTERS/Phil Noble

“The economy rebounded in May with growth across all main sectors,” said Darren Morgan, ONS director for economic statistics.That followed a 0.2-percent decline in April, which was revised up from a 0.3-percent contraction. “There was widespread growth across manufacturing after several tough months while construction also fared well with housebuilding and office refurbishment driving growth.”

 

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