UK economic growth slows down as Iran war pushes up energy prices

GDP expanded by 0.4% in three months to June, down from 0.6% in the first quarter, says ONS Economic growth slowed in the second quarter of the year, as the disruption unleashed by the Iran war began to take its toll, official figures show. The Office for National Statistics (ONS) said GDP expanded by 0.4% in the three months to June, down from 0.6% in the first quarter , in line with City economists’ expectations. The UK economy had been more resilient in the face of the ongoing Middle East conflict than some analysts feared. But the latest data suggests continued high energy prices are starting to weigh on growth. The news comes as the new chancellor, John Healey, prepares to present his first budget on 28 October.

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