Euro zone economic growth will take a knock in 2017 and 2018 because of the U.K.’s vote to leave the European Union (EU), S&P Global Ratings said on Monday.
“For the euro zone, despite the increased uncertainties and the hit to foreign demand resulting from Brexit, we do not at this point expect the recovery to stall. However, we estimate the Brexit effect will cost the euro zone 0.8 percent of GDP (gross domestic product) over 2017 and 2018,” the ratings agency said in a report.
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