UK Economy Contracts 0.2% in May as Political Uncertainty Amplifies Middle East War Impact

GateNews
According to Chris Williamson, Chief Business Economist at S&P Global, the UK economy contracted 0.2% on a quarterly basis in May, driven by escalating political uncertainty amplifying the impact of Middle East conflict. Businesses reported declining output, surging inflation, supply shortages, and widespread layoffs. While the Middle East war bears primary responsibility, domestic political challenges are intensifying uncertainty, further dampening consumption, hiring, and investment.
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