The UK economy returned to growth in May, according to data from the Office for National Statistics on Wednesday.

UK gross domestic product rose by 0.4% in May from April, having been flat on-month a month earlier.

This was hotter-than-expected, with FXStreet pencilling in a 0.2% increase.

The ONS also said that industrial production rose by 0.2% on-month in May, in line with FXStreet consensus. In April from March, industrial production fell by 0.9%.

On an annual basis, industrial production rose by 0.4% in May, having lost 0.7% in April. FXStreet were expected a 0.6% rise.

Also on Thursday, ONS data showed that the UK trade deficit narrowed to £4.89 billion from £6.75 billion.

Copyright 2024 Alliance News Ltd. All Rights Reserved.