UK business activity rose more than expected in April
Companies rushed to make purchases amid fears that the Iran war would send prices even higher
Companies rushed to make purchases amid fears that the Iran war would send prices even higher

The world is a mess but markets seem to be shrugging worries over the fallout of the Iran war

Data relates to period before Middle East war triggered jump in energy prices

Sometimes crises do not blow over as investors might hope

Sharp rise in inflation is hitting growth outlook for region heavily dependent on imported energy

Tehran has a strong incentive to keep the conflict going

Bank sees risks of surge in government borrowing costs and of hit to ‘rich’ asset prices