by Heather Stewart Economics editor on (#768NC)
GDP hit by higher energy prices caused by Middle East conflict, after 3% rise in MarchThe 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 key shipping route for global trade - the UK's strong expansion in the first quarter had been expected to slide into reverse. Continue reading...