Preliminary estimates from the UK’s Office for National Statistics show that the UK’s gross domestic product (GDP) contracted by 0.1% in April, following growth of 0.3% in March and 0.4% in February. This figure was in line with expectations, as the effects of the war in the Middle East continued.

The services sector, which accounts for more than 70% of the UK economy, contracted by 0.2% in April, while the construction sector grew by 0.1%. Productive output showed no growth in April.