Quote:
The UK economy grew 0.5 per cent in the third quarter of 2016, exceeding forecasts and defying Treasury warnings that a vote to leave the EU would spark an immediate recession.
Although growth in the three months from July to September was slower than the 0.7 per cent in the second quarter, it was much stronger than many economists had expected. The most recent average forecast was 0.3 per cent.
Philip Hammond, the chancellor, welcomed the news, saying: “The fundamentals of the UK economy are strong, and today’s data show that the economy is resilient.”
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Linky
More good news though the growth was mostly in services. It seems that pre-Brexit, companies did a lot of extra trade which reflects in the small apparent contraction post-Brexit. It'll be interesting to see the next quarter once the pre / post dust has settled and worked it's way out of the data.
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History is much like an endless waltz: The three beats of war, peace and revolution continue on forever.
However history will change with my coronation - Mariemaia Khushrenada
