British companies expect a surge in output in the final quarter of the year despite a slowdown in the three months to September, a survey showed, the latest sign that the country’s economy is largely coping with the shock vote to leave the European Union.
The Confederation of British Industry said on Sunday its growth indicator, based on a poll of companies, fell to +3 in the third quarter of 2016, down from +8 in the three months to August and the lowest since March.
The measure showed manufacturing output grew as the fall in the value of sterling after the Brexit vote helped exporters. But retailers and consumer services were broadly flat and business and professional services fell slightly.
By contrast, expectations for the next three months jumped to +22, the highest level since September 2015 with growth expected across all sectors.
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