LONDON – Britain's economy grew more than expected in the third quarter despite uncertainty in the aftermath of the vote to leave the European Union.
The Office of National Statistics said Thursday that Britain's economy grew by a quarterly rate of 0.5 percent in the July-September period. That beat forecasts of 0.3 percent and is likely to dampen expectations that the Bank of England might offer more stimulus soon.
Analysts had feared the economy would to grind to a halt or even contract after the June 23 vote, which has seen business activity take a substantial hit.
Treasury chief Philip Hammond says the economy now needs to adjust to a new relationship with the EU. The economy was lifted by growth in services, particularly films, retail and computer programming.