EFTA Document EFTA01377062

CIO Insights - August 2016 Macroeconomics 5 MACROECONOMICS The impact of uncertainty Uncertainty regarding the Brexit referendum result is likely to burden economic development in the UK - and the Eurozone - and lead investors and consumers to spend less. We expect a deceleration of economic growth in the UK to 0.8% next year, down from an expected 1.3%in 2016. This should lead to declining imports. As the UK's most important trading partner, the Eurozone is likely to be material