According to CoinMeta, institutional analysis suggests that the UK economy withstood the initial impact of the Iran war. Sunny weather and the FIFA World Cup helped consumers continue to spend in the second quarter. The Office for National Statistics (ONS) announced on Thursday that the UK's GDP grew by 0.4% in the three months to June, lower than the 0.6% growth rate in the first quarter, which was in line with economists' expectations. Economic growth was mainly driven by the services sector. After zero growth in May, the UK's GDP grew by 0.3% in June alone, whereas economists had previously predicted that it would shrink by 0.1%. Although the energy shocks caused by the Middle East conflict had little significant impact on economic growth this quarter, economists and the Bank of England expect that as the full effects of the war become more apparent, the momentum of economic growth will weaken. It is anticipated that the strong growth momentum in the first half of 2026 will gradually diminish, and the second half of the year will be more subdued, as British households will face increased energy prices of 13% in July. Moreover, with Boris Johnson becoming the UK's seventh Prime Minister in over a decade, there is also renewed uncertainty regarding policy.