Prolonged Iran war could tip UK into recession next year, report warns

BRITAIN'S economy could be sent into a recession next year if the crucial Strait of Hormuz remains closed into 2027 amid a prolonged Iran war, according to a report. The latest EY economic outlook warned that gross domestic product (GDP) could slow sharply to 0.5% this year and contract by 0.2% next year if the...

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.

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.

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.