The UK can expect low-toned economic growth for the next three years, while a no-deal Brexit could dent growth so far, says a forecasting body.
The EY Item Club predicted GDP growth of 1.3% this year and 1.5% in 2019, down from 1.4% and 1.6% respectively in its previous prospect three months ago.
The forecaster said these figures were based on the assumption that the UK and the EU is in agreement transition terms.
If this did not happen, circumstances could be “significantly weaker”.
If the forecaster’s prediction turns out to be accurate, 2018 would be the worst year of growing for the UK economy since the financial crisis.
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