The U.K. is predicted to be worse hit by the Iran war than its developed market counterparts, the OECD said in its interim economic outlook on Thursday.

The OECD downgrades forecasts for many of the world's biggest economies due to the US-Israel war with Iran.

Organisation for Economic Cooperation and Development says UK economy will grow by just 0.7% this year

The U.K. is predicted to be worse hit by the Iran war than its developed market counterparts, the OECD said in its interim economic outlook on Thursday.