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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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UK economic growth slowed following Brexit vote

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

UK economic growth slowed following the Brexit vote in June's EU referendum, official figures show.

The Office for National Statistics (ONS) 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.

The ONS said there was little evidence of a "pronounced" impact on the economy in the immediate aftermath of the referendum.

It added that a "strong performance" in the services sector had help deliver a higher-than-expected GDP figure for the three months to September. Economists had been predicting a steeper fall, with growth of just 0.3%.

In August the Bank of England warned third quarter growth would almost flat-line at around 0.1%, before upgrading its growth forecast in September to between 0.2% and 0.3%.

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