- Moody's cuts UK and Eurozone growth forecasts
Market news
8 July 2016
Moody's cuts UK and Eurozone growth forecasts
UK GDP
2016 1.5% vs 1.8% prior
2017 1.2% vs 2.1% prior
Eurozone GDP
2016 1.5% vs 1.7% prior
2017 1.3% vs 1.6% prior
- Brexit vote is likely to result in a shock to confidence that will curb UK economic growth.
- Eurozone cut reflects country specific developments combined with limited spillovers from Brexit.
- political contagion across EU is the greatest Brexit risk, forexlive said.
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