Financial News: UK GDP Shrinks Unexpectedly In May

UK GDP Shrinks Unexpectedly In May

07/11/2025 - 03:12:00 (RTTNews)

(RTTNews) - The UK economy shrank unexpectedly in May on a sharp fall in industrial output, data from the Office for National Statistics revealed on Friday.

Gross domestic product fell 0.1 percent in May, following a 0.3 percent drop in April. GDP was forecast to grow 0.1 percent. Moreover, GDP contracted for the second straight month.

Among three main sectors, industrial production was the largest contributor to the monthly GDP fall, which was down 0.9 percent. Construction output fell 0.6 percent. These declines were partially offset by an increase of 0.1 percent in services output.

In the three months to May, real GDP grew 0.5 percent compared with the previous three months. GDP expanded 0.7 percent in May from the previous year.

Another data from the ONS showed that the visible trade deficit narrowed to GBP 21.7 billion in May from GBP 22.4 billion in the previous month. At the same time, the surplus on services trade increased to GBP 15.99 billion from GBP 15.9 billion a month ago.

As a result, the total trade balance showed a deficit of GBP 5.7 billion, which was below April's GBP 6.5 billion deficit.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

UK Economy Contracts For Second Straight Month (12 min(s), 38 sec(s) ago)
(RTTNews) - The UK economy shrank for the second consecutive month in May, adding challenges to Ch ...Full Story»

Turkey Retail Sales Growth Strongest In 14 Months (01 hr(s), 48 min(s), 38 sec(s) ago)
(RTTNews) - Turkey's retail sales expanded at the quickest pace in more than a year in May, th ...Full Story»

Swiss Consumer Confidence Rises In June (02 hr(s), 11 min(s), 38 sec(s) ago)
(RTTNews) - Swiss consumers remained less pessimistic in June as the confidence index rose further ...Full Story»

French Inflation Rises To 1% (02 hr(s), 49 min(s), 38 sec(s) ago)
(RTTNews) - France's consumer price inflation increased in June, at a faster than previously e ...Full Story»

German Wholesale Price Inflation Rises In June (03 hr(s), 17 min(s), 38 sec(s) ago)
(RTTNews) - Germany's wholesale price inflation accelerated in June largely reflecting higher ...Full Story»

Romania Inflation Rises To 5.7% (03 hr(s), 20 min(s), 38 sec(s) ago)
(RTTNews) - Romania's consumer price inflation accelerated in June to the highest level in mor ...Full Story»

UK GDP Shrinks Unexpectedly In May (03 hr(s), 53 min(s), 38 sec(s) ago)
(RTTNews) - The UK economy shrank unexpectedly in May on a sharp fall in industrial output, data f ...Full Story»

Norway Trade Surplus Shrinks In June (04 hr(s), 12 min(s), 38 sec(s) ago)
(RTTNews) - Norway's foreign trade surplus declined notably in June from a year ago as exports ...Full Story»