UK Economy Shrinks 0.1% in April as Gulf Sports Cancellations Hit British Industry

📉 LONDON — UK's first monthly GDP drop since August, and F1 canceled it. 📌 LOOK CLOSER: Britain's sports-promotion and entertainment sector is heavily exposed to Gulf event revenue — F1, golf, and boxing drive significant UK broadcast and hospitality income. A 0.1% contraction signals the conflict reaches beyond energy markets into service exports. For Starmer, it's domestic pressure ahead of budget debates. Watch if it shifts UK posture on Hormuz.