GDP hit by higher energy prices caused by Middle East conflict, after 3% rise in March
The UK economy contracted by 0.1% in April as the Iran war began to take its toll on growth, official figures show.
As energy prices have risen as a result of the conflict, after Iran closed off the strait of Hormuz – a vital shipping route for global trade – the UK’s strong expansion in the first quarter slid into reverse.
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Source link : https://www.theguardian.com/business/2026/jun/12/uk-economy-gdp-shrank-april-iran-war-held-back-growth
Author : Heather Stewart Economics editor
Publish date : 2026-06-12 06:31:00
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