The UK economy grew by 0.2% in the three months to May 2018, according to an Office for National Statistics bulletin released on 10 July. Services expanded by 0.4% and supplied the only positive contribution; production and construction fell. This was a return from flat growth in the three months to April, not a broad-based improvement. [shared-f73ade2a744c0502fee9a6244d6d9522ebc7f11279fe43f45e3790de57d02ae8]
The monthly estimate put May GDP growth at 0.3%. Retail and wholesale activity helped lift services, while manufacturing remained weak. Construction shows why the measurement window matters: output rose 2.9% in May alone, yet fell 1.7% across the three months to May. The ONS cautioned that monthly GDP is volatile and should be read alongside the rolling three-month measure. [shared-f73ade2a744c0502fee9a6244d6d9522ebc7f11279fe43f45e3790de57d02ae8]
Monthly reporting offers policymakers and businesses a quicker signal, but it cannot show whether a brief rise will persist or how it is shared among households and workers. This release launched the ONS’s new monthly-GDP publishing model. Its figures are July 2018 estimates, not final or current readings; later revisions may change the historical picture. The open question is whether services-led growth broadens beyond one release. [shared-f73ade2a744c0502fee9a6244d6d9522ebc7f11279fe43f45e3790de57d02ae8]