Over three months GDP is predicted to have grown 1% which was 1.4% more than the same three months in 2023, influenced heavily by a 1.1% rise in the services sector. It has outperformed what was initially expected by 0.2% and is the strongest three months of growth since January 2022.

Professor Joe Nellis, MHA’s economic advisor said: ‘The data shows that the economy is set to move into a higher gear after flatlining for a couple of years.’

For May alone the services sector grew by 0.3% after a similar rise in April. Eight of the 14 sub-sectors showed growth marking the fifth consecutive month of positive GDP.