- Analytics
- News and Tools
- Market News
- UK GDP rose 0.3% in May, as expected
UK GDP rose 0.3% in May, as expected
Office for National Statistics said that monthly gross domestic product (GDP) growth was 0.3% in May 2019, following negative growth in April 2019. Consistent with the latest Quarterly national accounts, monthly GDP in March 2019 has been revised up by 0.2 percentage points to 0.1% as a result of new survey estimates.
Rolling three-month growth was 0.3% in May 2019, the second consecutive slowing in growth since the 0.5% seen in March 2019 (Quarter 1 (Jan to Mar) 2019), when there was a change in the timing of activity around the originally planned departure date of the UK from the EU. This growth was on par with the moderate growth rates seen at the start of 2019.
Commenting on today’s GDP figures, Head of GDP Rob Kent-Smith said: “GDP grew moderately in the latest three months, with IT, communications and retail showing strength. Despite this, there has been a longer-term slowdown in the often-dominant services sector since summer 2018. The economy returned to growth in the month of May, following the fall seen in April. This was mainly due to the partial recovery in car production.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
