UK economy grows 0.5% in May

By Tuba Sahin

ANKARA (AA) - The UK's gross domestic product (GDP) is estimated to have risen by 0.5% in May, after a drop of 0.2% in April, according to the Office of National Statistics on Wednesday.

The GDP is now 1.7% above its pre-coronavirus pandemic level in February 2020, it said.

The services sector expanded by 0.4% in May, driven by human health and social work activities.

The production increased by 0.9% in May, thanks to a growth of 1.4% in manufacturing and 0.3% in electricity, gas, steam, and air conditioning supply.

The construction sector grew for the seventh consecutive month, up 1.5% in May.

The annual growth in monthly GDP was 3.5% in the 12 months to May, down slightly from 3.7% to April, it noted.