European Union Commissioner for Economic and Financial Affairs Pierre Moscovici speaks to present the EU Economic Forecast to the media at the European Union Commission headquarters in Brussels, on November 9, 2016. / AFP / THIERRY CHARLIER
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Eurozone and Britain's growth will slow next year, the European Commission said Wednesday, cutting its economic forecasts for 2017 because of increased political uncertainty, including Britain's Brexit vote, and weakening global trade. The EU executive estimated that growth in the 19 countries sharing the euro would slow to 1.7 percent this year from 2.0 percent in 2015 and decelerate further to 1.5 percent in 2017 before picking up again to 1.7 percent in 2018 .Britain's GDP will pick up this year increasing by 1.9 percent, more than the 1.8 percent previously estimated by the EU, but growth will nearly halve next year to 1.0 percent, much lower than the 1.9 percent forecast in May.
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