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Economics2h 28m ago

The UK economy declined by 0.1 per cent in April, according to the Office for National Statistics.

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UK, Iran, Israel, US, Europe, Central Asia, Middle East, sub-Saharan Africa, Latin America, China, India

Who
Office for National Statistics, Liz McKeown, Bank of England, World Bank, Ajay Banga, United Nations
What
The UK economy declined by 0.1 per cent in April, according to the Office for National Statistics.
When
Fri, 12 Jun 2026 06:13:01 GMT · 2h 28m ago
Where
UK, Iran, Israel, US, Europe, Central Asia, Middle East, sub-Saharan Africa, Latin America, China, India ·
Why
The energy price shock from the Iran war took its toll on businesses and consumers, disrupting international trade across the Strait of Hormuz.
The Frontline Impact

How this affects you

The UK economy is experiencing a notable slowdown due to the Iran war's impact on energy prices and trade, with further declines anticipated as economists predict delayed effects will become apparent later this year. Globally, economic growth is expected to slow to its lowest rate since the pandemic, particularly affecting developing countries outside of China and India.

Story chain

5 events in this thread
  1. Economics1h 40m ago
    Speaking to Fox yesterday, Donald Trump said he planned to take over Kharg Island, the epicenter of Iran’s oil infrastructure, and later flipped his position yesterday afternoon, cancelling threatened airstrikes while claiming the stock market likes a deal and a signing would be 'very soon'.
    Open article
  2. Currently Reading2h 28m ago
    The UK economy declined by 0.1 per cent in April, according to the Office for National Statistics.
  3. Economics3h 39m ago
    The European Central Bank will keep all options open for its July policy meeting and will be ready to act again if necessary to stop an Iran-war-induced energy price surge from spreading, said Bundesbank President Joachim Nagel.
    Open article
  4. Economics4h 16m ago
    Stock markets rallied on Friday, with the Sensex surging over 800 points and the Nifty gaining more than 1%, due to easing tensions between the US and Iran, which led to a sharp fall in crude oil prices.
    Open article
  5. Economics4h 51m ago
    The World Bank has warned that the US and Israel’s war on Iran could slow global economic growth to its weakest level since the Covid-19 pandemic.
    Open article

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