UK economy shrank unexpectedly in May

The UK economy shrank unexpectedly in May, according to latest official figures.

The economy shrank by 0.1%, the Office for National Statistics said, the second month in a row it has contracted.

Economists had expected GDP to grow by 0.1%.

The fall in economic output was mainly driven by a drop in production, the ONS said.

Oil and gas extraction was down, while car-making and the "often erratic" pharmaceutical industry were weaker.

The services sector grew overall in May, with legal firms recovering from the impact of changes to stamp duty thresholds the previous month. But retail sales, the ONS said, were very weak.