The UK will join Italy next year as the slowest-growing economy in Europe, before holding that title alone in 2020, according to a European Commission forecast. These gloomy predictions are based on a soft Brexit - meaning that Britain is expected to lag behind all its EU peers even if Theresa May can reach a deal with Brussels before 29 March.  The commission expects consumer spending growth to remain weak, continuing a poor performance since the June 2016 referendum. The result will be GDP growth of only 1.2% in 2019 and 2020. The forecast came as the IMF sounded the alarm over the mounting risks to the European economy from a no-deal Brexit, the escalation of trade disputes around the world, and high levels of Italian government debt.