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Fragile British Economy Growth Amid Political and Geopolitical Tensions
The UK economy recorded tentative growth of 0.1% in May, extending the recovery that began in April. Data showed the services sector rose by 0.3%, while manufacturing and construction sectors shrank by 0.5% and 0.8%, respectively. The gross domestic product (GDP) also experienced strong growth of 0.7% during the quarter ending in May, with an annual increase of 1.3%, marking the largest rise in ten months, amid political uncertainties and geopolitical tensions. Despite the improvement in growth, the Organisation for Economic Co-operation and Development (OECD) forecasts that UK GDP will grow by only 0.9% in 2026, as economic challenges persist due to political conflicts and geopolitical instability.
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