UK Economy Slows, Unemployment Rises

The OECD has cut its global growth outlook to 2.8% and warned that the UK will suffer the biggest rise in unemployment among G7 nations.

This slowdown is attributed to the Middle East conflict and higher minimum wages.

The number of British workers facing job cuts has surged to its highest in over five years, reflecting the economic impact of the conflict.

Additionally, Ireland's GDP shrank by 12.1% in the first quarter, although its domestic economy showed modest growth, highlighting broader European economic vulnerabilities.