UK economy records surprise 0.3% growth in first month of the Iran war

GDP reading ties in with some surveys suggesting UK plc has kept up momentum despite rising fuel costs

The UK economy unexpectedly grew during the first full month of the Iran war, according to official figures, suggesting the Middle East conflict has not yet affected growth as much as feared.

Figures from the Office for National Statistics (ONS) showed growth of 0.3% in gross domestic product (GDP) in March, from a revised 0.4% rise in February and a 0% growth in January. This was significantly better than economists’ expectations, which had forecast GDP would shrink by 0.2%.