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UK spared recession as Brexit fears hang over economy

[LONDON] The UK almost certainly avoided a recession ahead of the now-postponed Oct 31 deadline to leave the European Union. The economy expanded 0.4 per cent between July and September, thereby avoiding a second straight quarter of contraction, according to the median forecast in a Bloomberg survey. Brexit stockpiling has led to volatility in output this year but the underlying picture is one of an economy that has lost momentum amid the turmoil convulsing British politics.


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