EU referendum: Nine out of 10 economists say Brexit will damage UK growth

Nearly nine out of 10 economists believe an exit from the European Union will have negative consequences for the UK economy, a new poll has revealed.

Gross domestic product and household incomes are both likely to be hit in the event of a Brexit, found the survey, which was carried out by Ipsos Mori for the Observer.

Around two-thirds of the 639 economists polled also say an EU exit will raise unemployment and heighten the risk of a "serious negative shock" to the British economy in the next five years.

Only 5% believe a Brexit will lead to positive economic growth, the survey showed.

It was compiled by interviewing members of the Royal Economic Society and the Society of Business Economists.

An overwhelming 88% think a Leave result in the 23 June referendum will lower Britain's economic output, driven mainly by loss of access to the single market, increased uncertainty and reduced investment.

'Final nail in Leave coffin'

Prime Minister David Cameron said the results "settled" the debate on the economic consequences of a Brexit.

"This poll confirms the overwhelming view of economists – leaving the EU would damage our economy, costing jobs and increasing prices. We are stronger, safer and better off in the EU," he was quoted as saying by Press Association.

Some 61% of economists believe a Brexit will drive the UK unemployment rate higher over the next five years, while 82% say it will lower household incomes.

Britain Stronger in Europe campaign director Will Straw told PA: "This is the final nail in the coffin of the leave campaign's economic credibility. It is becoming clear that leaving is a risk we simply cannot afford to take."

Cameron pledged to hold an in-out referendum on 23 June after negotiating a new deal with European counterparts to give the UK "special status" within the EU.

He has cautioned against a Brexit, saying it could lead to economic uncertainty and financial pain. However, supporters of the Leave campaign dispute this.