The British economy contracted slightly less than expected in May

Britain’s economy contracted less than expected in May despite the impact of strikes and an extra holiday for banks to mark King Charles’ coronation, putting it on track to avoid contraction in the second quarter of the year.

The Office for National Statistics said on Thursday that Britain’s economic output fell 0.1% in May on a monthly basis, after growing 0.2% in the previous month.

Economists polled by Reuters had expected a contraction of 0.3 percent.

All sectors of the economy contracted in May except for the services sector, which was flat without growth.

The bureau said it had received reports that the arts, entertainment, hotel and restaurant sectors benefited from the bank holiday.

However, there are indications that production has been affected by strikes in the health, railway and education sectors.