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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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'Little evidence' of 'pronounced impact' from Brexit vote

The UK economy grew by 0.5% from July to September. Credit: PA

There is "little evidence" that Britain's vote to leave the EU had a "pronounced impact" on the UK economy, according to the Office for National Statistics' chief economist.

Commenting on the latest figures, which show the economy grew by 0.5% in the three months after the Brexit vote, Joe Grice said: "Today's data provide the most comprehensive picture so far of the post-referendum UK economy.

"While quarterly growth has fallen slightly, the economy has continued to expand at a rate broadly similar to that seen since 2015 and there is little evidence of a pronounced effect in the immediate aftermath of the vote.

"A strong performance in the dominant services industries continued to offset further falls in construction, while manufacturing continued to be broadly flat.

“It is important to remember this is the first estimate, though it does reflect information already gathered from more than 37,000 UK firms.”

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