The U.K. economy contracted for the first time since August last year as the U.S.-Iran war has started to take its toll on business activity, official data showed Friday.
Real gross domestic product decreased 0.1 percent in April, in contrast to a 0.3 percent expansion in March, the Office for National Statistics reported. This was the first monthly fall since August 2025.
The decline was in line with economists' expectations and was driven by a 0.2 percent fall in services output. This was offset by a 0.1 percent increase in construction.
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Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.