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    Prolonged Iran war could trigger UK recession

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    A report by EY warns that the UK economy may enter a recession next year if the Strait of Hormuz remains closed due to the ongoing Iran conflict. GDP could slow to 0.5% this year and contract by 0.2% next year, with inflation potentially soaring to 6.4% by 2026. A reopening of the strait could improve growth forecasts.
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