UK economy rebounds by 0.5% despite cost-of-living crisis

The Independent: The UK economy has returned to growth, defying expectations with a rebound of 0.5 per cent in gross domestic product (GDP) in May despite the cost of living crisis.

The Office for National Statistics (ONS) said the rise in GDP came after a bounce back across all three main sectors of the economy – services, manufacturing and construction – even as inflation hit its highest level since the 1980s.

It follows two consecutive months of contraction in GDP, however April’s figures were revised upwards to a fall of 0.2 per cent, from a drop of 0.3 per cent in the previous estimation by the ONS.

https://www.independent.co.uk/news/business/uk-economy-growth-cost-of-living-b2121956.html

………………

FOLLOW US ON SOCIAL MEDI

A AND SHARE WTX NEWS WITH YOUR FRIENDS AND FAMILY:

Facebook – Please like our page

Twitter – Twitter updates available in English and Arabic. Please follow us and we would love to hear from you

Instagram – Follow our pages in English and Arabic