16 Apr 2026
Data published by the Office for National Statistics (ONS) has revealed that the UK economy grew faster than experts had anticipated ahead of the war in Iran.
The economy grew by 0.5% in February, the ONS said. It also recorded growth of 0.1% in January after it previously stated that the start of 2026 had seen no growth at all.
The data covers the period before the start of the Iran war, which sent shockwaves through energy markets and could spark a global recession.
Responding to the data, David Bharier, Head of Research at the British Chambers of Commerce (BCC), said: 'GDP growth of 0.5% in the three months to February shows the UK economy performed better than expected at the start of the year, with signs that momentum was building.
'But this data predates the Iran conflict, so the full impact of the energy and shipping shocks has yet to come through. Forecasts are being downgraded – we are now expecting just 1% for 2026, and the IMF this week warned the UK will be the hardest hit of the G7.'