In a report that will make grim reading in Downing Street, the Office for National Statistics said the economy contracted by 0.1 per cent in April following a surprisingly upbeat start to the year.

Economists expect the UK economy to contract in April as higher energy costs linked to the Iran conflict weigh on consumer spending, business activity, and overall growth…

Most economists forecast a 0.1% decline in output month-on-month – a marked reversal after the 0.3% growth seen in March.

UK’s economy grew better than expected before the breakout of the Iran war

The conflict in the Middle East triggered higher energy prices