Despite the cost of living crisis, the UK economy resumed growth with gross domestic product (GDP) recovering by 0.5% in May.
While inflation reached its highest level since the 1980s, the Office for National Statistics (ONS) said the rise in GDP came only after a rebound in the economy’s three main sectors – services, manufacturing and construction.
It follows two consecutive months of GDP contraction, although April’s figures were revised down to 0.2% from the previous ONS estimate of a 0.3% fall.
Chancellor Nadim Zahavi said: “It’s always nice to see economic growth, but I’m not complacent. I know people are concerned, so we continue to support families and economic growth.
“We are working with the Bank of England to reduce inflation and I believe we can build a stronger economy for everyone in the UK.”
Despite the end of testing and screening and vaccination programs for Covid-19, health was the biggest driver of growth in May as more people visited their GPs, says Darren Morgan, director of statistics at the ONS.
“Road carriers also had a busy month, while travel agencies performed well with unmet demand during the summer break,” Morgan said.
“Manufacturing expanded broadly after several difficult months, while construction also held up well, with housebuilding and office renovations driving growth.”
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Henry Blackwell is a contributor at Mediarunsearch.co.uk, covering a wide range of topics including news, politics, business, technology, sport, entertainment, and lifestyle. He focuses on delivering clear, balanced reporting and useful information that helps readers stay informed about current events and emerging developments. His work highlights stories that matter to everyday audiences, with an emphasis on accuracy, relevance, and accessible journalism.