The UK's decision to leave the European Union will lead to a prolonged period of uncertainty that will weigh on the country's economic and financial performance and will be credit negative for the UK sovereign and other rated entities, Moody's Investors Service said in a report published today.

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U.K. IT Growth will be revised downwards by more than 2% through to 2020; Overall Western European Growth is Expected to Remain Largely Unaffected

The recent referendum in the U.K. and the resulting vote to leave the EU is creating a significant level of uncertainty across the globe. Based on previous high-profile and often large-impact events, clearly there is a tendency to curb or stop discretionary investments (including non-essential IT investments and projects) very quickly in these types of situation. IDC expects a "challenging transition" as a result of Brexit, with the U.K. IT spending forecast likely to revised downwards by more than 2% on a compound annual growth rate (CAGR) basis through to 2020, but with overall European IT spending remaining largely unaffected in this period.

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In the wake of the Leave vote, Frost & Sullivan explains that organizations should use the new reality to influence the economy and society in a positive way

The United Kingdom, Europe and the world woke up this morning to a new reality. With the majority of the population voting to leave the European Union, Britain has started today its road to separation.

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