Britain's economy could contract in 2027 if the Strait of Hormuz remains closed to shipping until the middle of next year, according to new forecasts from accounting firm EY, highlighting the potential economic fallout from prolonged disruptions to global energy supplies, Reuters reported.
According to Reuters, EY expects the UK economy to expand by 0.8% in 2026 if the vital shipping route reopens by the end of September, before growing 1.2% in 2027 under its base-case scenario.
