UK May monthly GDP +0.5% vs 0.0% m/m expected

• Prior -0.3%; revised to -0.2%
• GDP +0.4% vs 0.0% 3m/3m expected
• Prior +0.2%
• Services +0.4% vs +0.1% m/m expected
• Prior -0.3%

The headline reading is encouraging with services output also growing by 0.4% on the month. That said, there is a bit of a caveat as it comes amid a boost in human health and social work activities - which grew by 2.1%, mainly because of a large rise in GP appointments, which offset the continued scaling down of the NHS Test and Trace and COVID-19 Covid-19 Covid-19 or the novel Coronavirus is a pandemic that has yielded wide ranging economic turmoil and volatility across financial markets in 2020. The first cases of Covid-19 were reported in Wuhan, China in late 2019. Since then, the virus has expanded globally, infecting millions worldwide. The virus has been extremely controversial, namely in the United States, which became heavily politicized during the 2020 presidential election. The Covid-19 pandemic is completely unprecedented in modern ti Covid-19 or the novel Coronavirus is a pandemic that has yielded wide ranging economic turmoil and volatility across financial markets in 2020. The first cases of Covid-19 were reported in Wuhan, China in late 2019. Since then, the virus has expanded globally, infecting millions worldwide. The virus has been extremely controversial, namely in the United States, which became heavily politicized during the 2020 presidential election. The Covid-19 pandemic is completely unprecedented in modern ti Read this Term vaccination programmes.

Meanwhile, output in consumer-facing services fell by 0.1% in May with retail trade falling by 0.5%.