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Market Extra: ‘Not out of the woods yet’ — analysts downplay U.K. GDP beat

The U.K. economy on Thursday defied post-Brexit vote doomsayers with forecast-beating growth in the third quarter, but analysts aren’t convinced the solid expansion will continue as the country gets closer to leaving the European Union.

Gross domestic product for the U.K. rose 0.5% in the three months to September, down from 0.7% in the second quarter, but easily outpacing consensus estimates of 0.3% growth.

UK GDP – BOOM pic.twitter.com/hahKTlgMS3

— Michael Hewson (@mhewson_CMC) October 27, 2016

The data covered the first full quarter after the U.K.’s referendum on its EU membership in June, which both the Bank of England and economists had warned would significantly hurt the economy.

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