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UK GDP: economy shrank by 0.1% in May as Coronation bank holiday hits activity – business live

UK GDP report for May

  • Rising UK interest rates threaten Sunak’s fiscal plans, OBR to warn


A range of manufacturing industries and businesses within construction cited the additional bank holiday for the Coronation of King Charles III, on Monday 8 May, as a reason for reduced output during.

But, the ONS reports that other sectors of the economy benefited from the festivities.

On the positive side, we had comments suggesting industries in the arts, entertainment and recreation sector benefitted from the extra bank holiday.

There were also comments on both increased and reduced output received in the accommodation and food services sector.

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