Britain’s economy shrank by 0.1% in May after a hit to activity from a trio of bank holidays, including for King Charles’s coronation.
The Office for National Statistics said that gross domestic product fell on the month, after growth of 0.2% in April. However, City economists had forecast a bigger fall of 0.3%.
Britain’s economy has broadly performed more strongly than expected in recent months, helped by falling global energy prices, rising consumer confidence and resilience in the jobs market.
Late last year, economists feared the UK would be in recession by now. The economy grew by 0.1% over the first quarter, matching the performance in the final three months of 2022.
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