Forecasts produced by economists in Brussels said the UK economy would grow by 1.5% this year rather than the 1.8% pencilled in when the last assessment was made in May. The International Monetary Fund is expecting UK growth of 1.7% this year, while the Organisation for Economic Cooperation and Development is forecasting growth of 1.6%. EC slashes UK growth forecasts but sees best eurozone growth in a decade - business live Read moreBrussels believes that the UK economy will slow further to 1.3% in 2018 and 1.1% in 2019 – with growth of just 0.3% in every quarter for the next two years. “Economic growth in the UK has been slowing since the start of the year, as higher consumer prices constrained private consumption growth,” the commission report said. For the eurozone as a whole, the pace of growth is expected to slacken slightly to 2.1% in 2018.

Source: The Guardian November 09, 2017 12:56 UTC