Little hope for a summer bounce as no-deal fears drag down GDP growth

The economy expanded just 0.3% in May, and a slump awaits

One swallow doesn't make a summer, so the old saying goes. For the warm middle months of the year, the British economy looked remarkably frosty, chilled by fears over a no-deal Brexit, until the Office for National Statistics reported a surprisingly strong month for growth in May.

The figures, released last week, were a glimmer of hope that Britain might yet shrug off the worst of the Brexit cold, which has laid the economy low over recent months as companies put their investment plans on ice.

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