UK economy shrank by 0.1% in April as Iran war held back growth
by Heather Stewart Economics editor from World news | The Guardian on (#768NC)
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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