UK economy grew by more than expected in May, helped by house-building

Britain's economic output increased by 0.4% in May, a higher than expected increase, largely due to a surge in housing construction. The Office for National Statistics data showed a broad-based increase in services, manufacturing, and construction industries, with the housing sector contributing to a 1.9% increase. The economy expanded by 0.9% over the three months to May, the strongest since January 2022.