UK May GDP rose 0.1% month on month, beating a 0% consensus and reversing a -0.1% print in April, in line with the Bank of England\u2019s baseline Q2 forecast of +0.1% quarter on quarter. The monthly gain was driven by a 0.3% rise in services, while production fell -0.5% and construction declined -0.8%. Within services, professional, scientific and technical activities accounted for 0.16 percentage points of the increase in real GDP.<\/p>\n\n
Rates pricing points to further tightening, with the swaps curve fully implying a 25 basis-point move to a 4.00% Bank Rate in November and a cumulative 50 basis points over the next 12 months, reflecting persistent inflation. <\/p>\n\n
In FX markets, GBP\/USD has resistance near 1.3600, while GBP was described as consolidating after broad-based gains linked to shifting political expectations involving Andy Burnham and Ed Miliband, and the article states it was produced using an AI tool and reviewed by an editor.<\/p>\n\n\n\n