UK economy improved in May – Report

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Britain’s economic output grew by 0.4 percent in May, surpassing analysts’ expectations of 0.2 percent and rebounding from flat GDP growth in April, according to the Office for National Statistics. This unexpected growth provides an early boost to the newly-elected Labour government.

Finance Minister Rachel Reeves emphasized the government’s commitment to economic growth, stating, “Delivering economic growth is our national mission, and we don’t have a minute to waste.” Reeves, appointed by Prime Minister Keir Starmer, is the first female chancellor of the exchequer and highlighted that a decade of national renewal has begun.

The stronger-than-expected GDP growth in May marks a positive start for the new administration, signaling potential economic stability and progress under the Labour government’s leadership.

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