UK Economy Grows More Than Expected In May, Helped By Autos Rebound

www.oann.com | 11/2/2015 | Staff
crazycool12crazycool12 (Posted by) Level 4
LONDON, (Reuters) – Britain’s economy grew by more than expected in May, helped a rebound in car production after Brexit-related shutdowns, according to figures that will ease concerns about the extent of the country’s slowdown.

Overall output expanded 0.3% after contracting by 0.4% in April, the Office for National Statistics said, stronger than all forecasts in a Reuters poll that had pointed a rise of 0.1%.

Economy - Growth - Month - May - Fall

“The economy returned to growth in the month of May, following the fall seen in April. This was mainly due to the partial recovery in car production,” ONS statistician Rob Kent-Smith said.

Car manufacturers in Britain brought forward their annual summer maintenance shutdowns to April to help dodge potential disruption in the aftermath of the original March 29 Brexit deadline, which has now been pushed back to October.

The...
(Excerpt) Read more at: www.oann.com
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