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UK economy defying expectations

The UK economy has proved resilient since the Brexit vote, despite expectations to the contrary.

The referendum vote appears not to have had a major impact on the economy, although gross domestic product figures next month will give a better indication, Office for National Statistics chief economist Joe Grice said.

The Organisation for Economic Co-operation and Development has announced an upward revision to its UK growth forecast for this year, to 1.8% from 1.7%, but revised down next year’s forecast to 1%.

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