OECD cuts UK 2016 GDP to 1.7% vs 2.1% prior on Brexit concerns

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By Dhwani Mehta

OECD cuts UK 2016 GDP to 1.7% vs 2.1% prior on Brexit concerns

In their latest June Economic Outlook, the OECD highlighted that the outcome of the referendum is a major risk for the British economy and could lower growth by 0.5% in both 2017 and 2018 and by 1.5% in 2019.

Key Details:

Eurozone 2016 GDP hiked to 1.6% from 1.4%, 2017 unchanged at 1.7%

US 2016 GDP cut to 1.8% from 2.0%, 2017 steady at 2.2%

2016 global growth 3.0% unchanged vs Feb

UK 2016 GDP slashed to 1.7% vs 2.1% prior

Japan 2016 GDP lowered to 0.7% vs 0.8% prior

News Source: http://www.fxstreet.com/

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