The negative effects of Brexit on the European economy continue to make themselves felt. This is confirmed by the rating agency Moody's, which cut the estimates on Italian GDP for 2016 and 2017, respectively +1% and +0,9% from +1,2% for both years previously forecast.
Forecasts for the whole are also down euro area, +1,5% for 2016 and +1,3% for 2017, against the +1,7% and +1,6% of the forecast made last May.
The most significant impact, clearly, will be on the economy UK. According to Moody's, the country's GDP will go from +1,8% for 2016 and +2,1% in 2017 of the pre-Brexit estimate, to +1,5% for the current year and +1,2% for the next. The decline in investments will weigh above all on the sharp decline.
