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Evening Standard
Evening Standard
Politics
Michael Howie and Nicholas Cecil

'Ticking tax timebomb' warning as UK economy shrinks 0.1% in May in fresh blow to Rachel Reeves

Rachel Reeves Economy United Kingdom

The UK economy contracted unexpectedly for a second month running in May, according to the Office for National Statistics.

Gross Domestic Product fell 0.1% in May, following a 0.3% contraction in April. Analysts had forecast a 0.1% rise.

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