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Brunei
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22.7 C
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Wednesday, July 6, 2022
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    UK economy bounces back in May in wake of Brexit extension

    LONDON (AP) – Official figures show the British economy bounced back in May but fears remain that the country could slip into recession ahead of the revised Brexit deadline.

    The Office for National Statistics said yesterday that the economy grew a monthly 0.3 per cent in May largely because car makers ramped up production again after many went idle in April in case the original Brexit deadline ended up with Britain crashing out of the EU without a deal.

    In April, the British economy contracted 0.4 per cent.

    In the event, the March 29 Brexit date was extended to October 31.

    The delay has done little to lift the cloud of uncertainty surrounding the British economy, with no one sure about what will happen. As such, firms remain wary of investing.

    Brexit protester Steve Bray standing outside Westminster Abbey in London. – AP

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