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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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.