After a strong start to the year, the UK economy spluttered again in May, shrinking by 0.1% from the previous month.
Manufacturing output sagged, along with construction and retail sales.
A year ago, a Labour government was elected on a promise to revive growth and “put more money in people’s pockets”. So far, there’s been little sign of a turnaround.
In the 12 months to May 2025, the economy grew by just 0.7% – an anaemic rate that won’t leave many households feeling better off.
Twenty years ago, growth over the same period was more than three times higher.
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