UK economy posts unexpected 0.5% growth before Middle East conflict
Business
The UK economy pulled off an unexpected 0.5% growth in February 2026, way above what experts predicted.
This early-year boost came just before conflict broke out in the Middle East, showing some real resilience.
Hormuz closure spikes energy prices
The new conflict in the Middle East has sent oil and gas prices soaring after the Strait of Hormuz was closed, making things tough for global markets.
Economists have already lowered their expectations for UK growth this year, and both businesses and consumers are feeling less confident about what's next.
At IMF meetings, Rachel Reeves called the conflict a "mistake," highlighting just how unpredictable things can get when geopolitics are involved.