The International Monetary Fund has trimmed its forecast for UK and global economic growth this year and next year. It predicts Britain will only expand by 1% in 2012-13, 0.1% less than previously predicted.
The International Monetary Fund's World Economic Outlook update predicted that the global economy would grow 0.1% less than anticipated.
The global economy is now forecast to grown by 3.5% in 2013 and 4.1% in 2014.
Much of the reduction stemmed from a weaker outlook for the eurozone.
The International Monetary Fund (IMF) has trimmed its forecast for UK and global economic growth this year and next year.
Britain will only expand by 1% in 2012-13, according to the respected body, 0.1% less than previously predicted.
The forecast for next year has been downgraded from 2.2% to 1.9% since October.