The British economy contracted by 0.1% during April 2026, impacted by rising energy prices resulting from the closure of the Strait of Hormuz, which dampened economic momentum following a strong performance in the first quarter of the year.
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The British newspaper The Guardian quoted the UK's Office for National Statistics (ONS) stating that Gross Domestic Product (GDP) declined after recording a 0.3% growth in March, reinforcing concerns that the economy could potentially contract during the second quarter of the year.
The British Chancellor of the Exchequer, Rachel Reeves, stated that the economy was in a strong position before the outbreak of the conflict in the Middle East, with growth exceeding expectations and a decline in inflation rates. She emphasized that the war was not a choice for the United Kingdom, but it would inevitably reflect internal economic impacts.
