(MENAFN) Newly released forecasts showed that the British economy is to slow down sharply next year due to political uncertainty and a potential vote on membership of the EU, AFP reported.
According to the EY ITEM Club forecast, gross domestic product (GDP) growth would slow to 2.4 percent in 2015, following a 3.1 percent growth registered this year, data showed.
The forecasts are below the Bank of England's outlook of 3.5 percent growth in 2014 and 3 percent growth in 2015, as well as International Monetary Fund and CBI forecasts.
"The forecast for GDP growth is still relatively good. What has changed is the global risks surrounding the forecast and the headwinds facing investment by firms," said EY ITEM Club chief economic adviser.
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