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UK economy beats forecasts with 0.3% growth in March despite Iran war – business live

Rolling coverage of the latest economic and financial news, including the UK’s latest GDP report

Newsflash: The UK economy kept growing in March, despite the economic damage caused by the Iran war.

UK GDP rose by 0.3% in March 2026, the Office for National Statistics has reported, beating forecasts of a contraction of 0.2%.

Services and construction output both grew, by 0.3% and 1.5%, respectively - these growths were partially offset by a 0.2% fall in production.

“We’ve got time to understand firstly the size of the shocks and secondly, how the economy is evolving.”

“You’re obviously correct that we can’t wait forever, but we don’t need to do it in June or July.”

“We don’t need to rush to act.”

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May 14, 2026 Business Economics Stock markets

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