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Prolonged Iran war could tip UK into recession next year, report warns
The EY economic outlook cautions that GDP could slow to 0.5% this year and contract by 0.2% next year if the Strait of Hormuz remains shut into 2027.
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independent.co.uk
Prolonged Iran war could tip UK into recession next year, report warns
The EY economic outlook cautions that GDP could slow to 0.5% this year and contract by 0.2% next year if the Strait of Hormuz remains shut into 2027.
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UK ‘at risk of recession’ if Strait of Hormuz remains closed into 2027
EY’s latest economic outlook also warns that inflation could rise to 6.4% as oil and gas prices soar
