UK GDP Tops Expectations With 0.5% Gain in May

The video discusses the UK's economic growth, highlighting a 0.5% GDP increase after previous declines, surpassing expectations. The Bank of England prioritizes reducing inflation to 2%, with Governor Andrew Bailey emphasizing this goal. Lizzie Borden provides insights into the GDP figures, noting the impact of health services and pent-up demand. The discussion also touches on political implications for Rishi Sunak and the Bank of England's potential actions to control inflation, even at the risk of recession.

What was the GDP growth rate in the UK after the decline in April?

• 0.7%

• 0.5%

• 0.1%

• 0.2%

What is the main priority of the Bank of England according to Governor Andrew Bailey?

• Improving trade balance

• Increasing GDP growth

• Reducing unemployment

• Bringing inflation down to 2%

How does the recent economic data affect the Bank of England's policy options?

• It limits their ability to change interest rates

• It forces them to cut rates

• It gives them more room to hike rates

• It has no impact on their policy

What impact might the economic data have on the Conservative Party leadership contest?

• It favors Nadim Zahawi

• It has no impact on the contest

• It strengthens Rishi Sunak's position

• It weakens Rishi Sunak's position

What is the Bank of England willing to risk to control inflation?

• A decrease in GDP

• A rise in unemployment

• A potential recession

• An increase in interest rates