The UK economy is expected to lose up to 163,000 jobs this year as the Iran war drives higher energy costs, weaker consumer spending and supply chain disruption, according to the Item Club. Regions with lower incomes, including South Wales and The Humber, are forecast to suffer the heaviest employment losses due to their dependence on manufacturing and construction industries.
Meanwhile, Heathrow Airport reported a 5.3 per cent fall in passenger traffic last month, with 6.7 million travellers passing through its terminals compared with 7.1 million a year earlier. Airport officials linked the decline to disruption caused by the Middle East conflict, although demand for summer travel remains resilient.
