The UK economy shrunk less than expected in May despite an extra bank holiday and strikes, reducing the scope for a contraction in the second quarter.
Real gross domestic product decreased 0.1 percent on a monthly basis, reversing April's 0.2 percent growth, the Office for National Statistics reported Thursday. However, this was slower than economists' forecast for a 0.3 percent decline.
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Business News
April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.