EU says British growth to almost halve next year amid Brexit

AP News
Posted: Nov 09, 2016 7:10 AM

BRUSSELS (AP) — The European Union says that economic growth in Britain is set to "almost halve" next year because of the impact of the June referendum vote to leave the 28-nation bloc.

In Wednesday's publication of the Autumn forecasts, the EU said that GDP growth in Britain is set to fall from a projected 1.9 percent for this year, to just 1 percent next year, before slightly picking up to 1.2 percent in 2018.

The bi-annual report says that it reflects the "impact of heightened uncertainty following the referendum and its impact on business confidence."

The report also said that the 19-nation eurozone "seems to have shrugged off the result, but the sharp increase in policy uncertainty associated with it is expected to persist."