The British economy expanded 0.2% in the three months ending in May, according to economic think tank National Institute and Social Research. Output also grew 0.2% in the three months leading to April.

The economy's muted performance was due to sluggish production, moderated by a slight uptick in the services sector, according to James Warren, a research fellow at NIESR. He added that the political climate immediately after the June elections may lead to greater uncertainty and bring growth prospects down.

NIESR published a report in May which predicted GDP growth of 1.7% in 2017 and 1.9% in 2018.