Britain is likely to enter a recession within the year as a result of last week's vote to leave the European Union, a decision that will stunt global economic growth as well, Goldman Sachs' top economists said on Sunday.
"We now expect the (British) economy to enter a mild recession by early 2017," Goldman economist Jan Hatzius and Sven Jari Stehn wrote in a note for clients.
They also expect knock-on effects in the U.S. and European economies.
Goldman now expects eurozone GDP over the next two years to average 1.25% versus 1.5% before the Brexit vote.
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