london telegraph october 27, 2016 




b ritain<u+2019>s economy expanded by 0.5pc in the three months following the eu referendum, slowing down a touch from the 0.7pc growth recorded in the previous quarter but defying the most pessimistic predictions made by the remain campaign. 




the country<u+2019>s economic performance was stronger than the 0.3pc predicted by economists, and in line with the official forecasts made before the referendum took place <u+2013> in march the office for budget responsibility predicted third quarter growth of 0.5pc. it also disproves the treasury<u+2019>s referendum campaign claim that a vote to leave the eu would r esult in 0.1pc fall in gdp in the third quarter that would herald the start of a recession. the treasury<u+2019>s worst-case <u+201c>severe shock<u+201d> scenario was even more pessimistic, predicting a 1pc fall in the three-month period. 




s terling rallied on the initial estimates from the office for national statistics, and economists said the unexpectedly strong numbers made it less likely that the bank of england<u+2019>s monetary policy committee (mpc) would cut interest rates at next month<u+2019>s monetary policy committee meeting. this article was posted: thursday, october 27, 2016 at 5:59 am share this article
uk economy grows 0.5pc in the wake of brexit vote, defying recession fears
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