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UK economy grew 0.5% in aftermath of Brexit vote, down from 0.7%

UK economic growth slowed down following the Brexit vote in June's EU referendum - but less than predicted, official figures show.

The Office for National Statistics said GDP grew by 0.5% in the third quarter from July to September, compared to growth of 0.7% in the three months to June.

Chancellor Philip Hammond said: “The fundamentals of the UK economy are strong, and today’s data show that the economy is resilient."

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How each sector of economy performed since Brexit vote

Construction fell by 1.4% in the third quarter, official figures show. Credit: PA

The UK economy has bucked expectations of a substantial slowdown in the three months after the EU referendum thanks to a "strong performance" from the services sector.

The economy grew by 0.5% in the third quarter, compared a 0.7% expansion in the three months to June, official figures show.

The services industries increased by 0.8%, with the main boost coming from transport, storage and communication, which grew at its fastest pace since the fourth quarter of 2009, rising 2.2% over the period in contrast to 0.6% in the second quarter.

There was also a boost from film and TV production, while the release of Ghostbusters, Jason Bourne, The BFG and Star Trek Beyond helped bolster box-office receipts in July.

In contrast to the service sector, construction fell by 1.4%, manufacturing decreased by 1.0%, agriculture dropped by 0.7% and production contracted by 0.4%.

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