The UK’s economic recovery gathered momentum in May, an early boost to the new Labour government as it rushes to revive the country’s growth prospects.
Gross domestic product rose 0.4% m-o-m in May after the flat reading in April, the Office for National Statistics said on Thursday. It was double the 0.2% pace economists had expected, reflecting the fastest expansion in construction in almost a year.
The figures put Britain on course for another solid quarter of growth, continuing a recovery from recession that Labour wants to turbocharge with a blitz of growth-boosting policies.
The economy was aided by better weather in May after activity in the retail and construction sectors was dampened by heavy rain in April. Previous data showed retail sales jumped as the UK enjoyed the warmest May on record, according to the Met Office.
“Many retailers and wholesalers had a good month, with both bouncing back from a weak April,” said Liz McKeown, ONS director of economic statistics. “Construction grew at its fastest rate in almost a year after recent weakness, with house building and infrastructure projects boosting the industry.”
