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EY cuts growth on Brexit fears

The EY ITEM Club has cut its GDP growth forecast for both 2018 and 2019 for the second successive quarter. It says this reflects increased uncertainties due to the "elevated risk" of the UK leaving the EU without a deal in March 2019, recent faltering consumer purchasing power, and a clear loss of economic momentum in the eurozone over the first half of 2018 as well as an uncertain global trade outlook.

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