What happened: The OECD has lowered growth forecasts for several major economies, with the UK expected to suffer the biggest impact from the US-Israel conflict with Iran.
Why it matters:
- Economic growth in the UK is projected to slow more than in other major countries.
- Businesses and consumers in the UK may experience increased uncertainty and financial strain.
MNN Take: The OECD’s revised forecasts reflect concerns over geopolitical tensions affecting trade, energy prices, and investment, which can slow economic activity globally, particularly in the UK.
Sources: BBC Business