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EY Warns of UK Recession from Hormuz Closure
Ernst & Young warns of a recession in the British economy by 2027 if the closure of the Strait of Hormuz and its impact on navigation and energy persist. Such a situation could lead to sharp inflationary pressures and a slowdown in economic growth. The company has revised its projections for the UK's GDP growth to 0.9% in 2026 and 1.2% in 2027, with the possibility of the economy contracting by 0.2% if the crisis continues, which would further increase inflationary pressures and negatively affect growth.
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