London: Britain’s economy exceeded expectations with stronger-than-expected growth in May, according to official data released Thursday, providing an early boost to the newly-elected Labour government.
The Office for National Statistics reported a 0.4 percent increase in gross domestic product (GDP) for May, following flat GDP growth in April.
Analysts had anticipated growth of 0.2 percent for May, underscoring the positive surprise in economic performance.
“Ensuring economic growth is our top national priority, and we cannot afford any delays,” remarked Britain’s new finance minister Rachel Reeves in response to Thursday’s data.
“A decade of national revitalization has commenced, and this is only the beginning,” added Reeves, who made history as the country’s first female Chancellor of the Exchequer upon her appointment by Prime Minister Keir Starmer.
Starmer’s centre-left Labour party secured a decisive win in Britain’s recent general election, ending 14 years of Conservative rule.
