UK Economy Shows Mixed Performance in May, Manufacturing Outperforms

The UK economy presented a mixed picture in May, with monthly GDP growing by 0.1%, in line with consensus. Quarterly GDP (q/q) rebounded to 0.7%, surpassing forecasts of 0.5%, while year-on-year growth was 1.3%, slightly below projections. Manufacturing output showed strength, jumping 2.3% year-on-year, exceeding expectations. However, general industrial production contracted by 0.5% month-on-month, and the trade deficit narrowed significantly to -£18.66 billion.