20 Hrs
Source:
The Guardian
EY warns of UK recession if Strait remains closed
The article discusses the potential economic impact of the closure of the Strait of Hormuz, emphasizing that if it remains shut until mid-2027, the UK could face recession with a sharp slowdown in GDP. EY warns that an extended closure would increase inflation and may lead to economic contraction, while a reopening by the end of the third quarter could allow for continued growth. The piece also highlights ongoing geopolitical tensions, oil price fluctuations, and related concerns for inflation and energy markets.
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