IMF Sees U.K. Growth of Around 1.5% in 2018

The International Monetary Fund said Wednesday it expects growth in the U.K. economy to slow to around 1.5% in 2018, reflecting weakening business and consumer spending as a result of the uncertainty surrounding the U.K.'s decision to exit the European Union.

In its annual health check of the U.K., the fund said that "despite a strong recovery in global growth and supportive macroeconomic policies, the impact of the decision to exit the European Union has weighed on private domestic demand."

The IMF added that the economic outlook depends in part on progress in Brexit talks between Brussels and London.

"Faster-than-expected progress towards a mutually beneficial economic outcome could buoy confidence. On the other hand, a breakdown in discussions could lead to a disorderly exit from the EU and sharp falls in asset prices," the fund said.

Write to Jason Douglas at Jason.Douglas@wsj.com

(END) Dow Jones Newswires

December 20, 2017 05:56 ET (10:56 GMT)