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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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GDP figures show public 'keeping calm' after Brexit vote

The UK economy grew by 0.5% in the three months since June's EU referendum, showing the public is so far "keeping calm and carrying on shopping", ITV News Economics Editor Noreena Hertz said.

However she added that it would be a different story when inflation hits next year.

The pound has dropped more than 20% in value against the US dollar since the Brexit vote, making Britain's products cheaper abroad.

But the fall in the pound's value is having an adverse effect on the price of imported food, goods and materials used by manufacturers.

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