UK economy rebounds as nation awaits new PM

LONDON, July 16: Britain's economy rebounded slightly in May with growth of 0.1 percent thanks to expansion in the services sector, official data showed Thursday as Britain awaits a new prime minister. 

Gross domestic product (GDP) had contracted by 0.1 percent in April as the US-Iran war pushed up inflation after oil prices soared. 

"The growth in May was because of a rise of 0.3-percent (output) in services," the Office for National Statistics said in a statement.

The latest data "is not a bad welcome gift for incoming PM Andy Burnham", noted Paul Dales, chief UK economist at Capital Economics research group.�"AFP