European economic forecasters have cut their calls for gross domestic product (GDP) growth in 2017 and 2018, citing the impact of Brexit, the European Central Bank (ECB) said Friday.

The ECB released the results of its latest survey of professional forecasters, which sees real GDP growth expectations and inflation expectations revised downwards for 2017 and 2018. The average forecast for GDP growth now stands at 1.4% for 2017 (revised down by 0.2 percentage points) and at 1.6% for 2018 (down by 0.1 percentage point).

“Based on the information provided by the respondents, these revisions largely reflect an expected negative impact on the euro area from the U.K. referendum result,” the central bank says.

Additionally, the ECB says that the balance of risks to these forecasts is seen remaining on the downside.

Unemployment rate expectations remain broadly unchanged at 10.1% for 2016, 9.7% for 2017, and 9.5% for 2018.

The ECB’s survey is conducted quarterly with experts at both financial and non-financial institutions based within the European Union (EU).