Europe & Russia: Economic overview
The economic forecasts for the UK and the eurozone have been revised downward as financial uncertainties caused by Brexit continue.
The latest UK GDP forecast has been revised downwards, as the outlook for key economic indicators has fallen. The UK’s GDP is now forecast to rise by 1.8% this year, down from a previous forecast of 2.2%. Weaker growth will also be seen in 2017, when GDP growth is expected to reach just 1% compared with a previous forecast of 2.3%. Weak business investment, which is expected to fall on an annual basis this year and next, will hit the economy and outweigh the slight pick-up in exports expected in 2018.