The U.K.'s public sector net debt in May exceeded 100% of GDP for the first time since 1961, the Office for National Statistics said Wednesday.
Public sector net debt, excluding that of state-controlled banks, came in at £2.567 trillion , which amounted to 100.1% of GDP.
Visitors look out to St. Paul's Cathedral from a rooftop in the City of London, UK, on Thursday, March 2, 2023.LONDON — The U.K. public sector net debt in May exceeded 100% of the nation's GDP for the first time since 1961, the Office for National Statistics said Wednesday. Government borrowing in May totaled £20.045 billion, the ONS revealed, exceeding consensus expectations of £19.5 billion from a Reuters poll of economists.
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