International rating agency Moody’s revised growth forecasts for EU lowering it from 1.7% to 1.5% in 2016 and from 1.6% to 1.3% in 2017. This was due to the UK decision to leave the EU.  The forecast for the UK growth has also been reduced from 1.8% to 1.5% in 2016, and 2.1% to 1.2% in 2017. According to media reports, uncertainty about common European market without the UK could lead to a reduction in business investment and consumer spending in the UK, as companies are refraining from hiring new employees and making long-term investments. 





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