Britain's economy contracted by 0.1 per cent in April, its first monthly drop since August 2025 as the Iran war's cancellation of Formula 1 Grand Prix races and other Gulf sporting events delivered a blow to the British entertainment industry.
Friday's data from the Office for National Statistics (ONS) showed the first clear signs of an impact from the US-Israeli war on Iran in terms of British economic growth.
Output in the dominant services sector declined in April by 0.2 per cent, dragged down by administration and support services, as well as the arts, recreation and entertainment sectors.
