UK GDP shrinks -0.1% mom in May, but underlying momentum still holds

UK GDP unexpectedly contracted by -0.1% mom in May, missing expectations for 0.1% mom growth. The weakness was driven by a sharp -0.9% mom drop in industrial production and a -0.6% mom fall in construction output, partially offset by a modest 0.1% mom gain in services—the largest sector of the economy. Still, broader momentum remains […]

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