The National Institute of Economic and Social Research (NIESR) released its estimate of gross domestic product (GDP) for the U.K. on Wednesday. The GDP estimate rose by 0.6% in three months to May, after a 0.5% growth in three months to April. The previous three months' figure was revised up from a 0.4% rise.

The NIESR said that the current estimate is consistent with a rebound of the economic growth in the U.K. in the second quarter, and it expects the U.K. economy to expand at 2.5% this year, and 2.4% next year.