The British economy contracted 0.1% in May

According to the British Office for National Statistics (ONS), the UK economy contracted 0.1 percent in May after growing 0.2 percent in April. The expectation was that the economic contraction would be 0.3 percent in May.

The British economy has not grown in the last 3 months.

The 0.6 percent drop in production in May was the determining factor in the contraction of the economy. Production also contracted 0.2 percent in April.

The construction sector contracted 0.2 percent in this period, while the service sector followed a flat course. While the construction sector declined 0.9 percent in April, the service sector grew 0.3 percent.

The consumer-oriented service sector also contracted 0.2 percent in May, after growing 1.1 percent in April.

ONS Director of Economic Statistics, Darren Morgan, in his assessment of the data, asserted that the economy contracted due to declines in the manufacturing, power generation and construction sectors, saying: “However, the “Services remained flat in May due to a decrease in strikes in the country compared to the previous month. The information technology sector had a strong month. In the last 3 months, the economy has not grown overall.” Phrases.(BRITISH AUTOMOBILE CLUB)