AFP, Brussels :
The European Union on Wednesday nearly halved its economic growth outlook for Britain in 2017 due to the impact of the Brexit vote to leave the bloc.
“Growth is projected to almost halve in 2017, to 1.0 percent, (from 1.9 percent in 2016) reflecting the impact of heightened uncertainty following the referendum and its impact on business confidence and broader economic conditions,” the EU said in its autumn economic forecasts.
British economic growth is however expected to edge up slightly in 2018 to 1.2 percent because of a rise in exports even as domestic demand remains low, the EU said.
The European Union on Wednesday nearly halved its economic growth outlook for Britain in 2017 due to the impact of the Brexit vote to leave the bloc.
“Growth is projected to almost halve in 2017, to 1.0 percent, (from 1.9 percent in 2016) reflecting the impact of heightened uncertainty following the referendum and its impact on business confidence and broader economic conditions,” the EU said in its autumn economic forecasts.
British economic growth is however expected to edge up slightly in 2018 to 1.2 percent because of a rise in exports even as domestic demand remains low, the EU said.
