UK economy defies fears of quick Brexit hit, grows solidly in Q3

UK economy defies fears of quick Brexit hit, grows solidly in Q3

الخميس 1438/1/26 هـ الموافق 2016/10/27 م واس

LONDON, Muharram 26, 1438, October 27, 2016, SPA — Britain’s economy barely slowed in the third quarter despite the Brexit vote shock, further diminishing the chance of a fresh interest rate cut by the Bank of England next week, Reuters reported.
Gross domestic product expanded by 0.5 percent in the July-September period, less rapid than the unusually strong growth of 0.7 percent seen in the second quarter but comfortably above a median forecast of 0.3 percent in a Reuters poll of economists.
Compared with the third quarter of last year, growth picked up to 2.3 percent, the strongest pace in more than a year, according to the preliminary figures from the Office for National Statistics.
–SPA
12:34 LOCAL TIME 09:34 GMT