LONDON, Dec. 23 (Xinhua) -- Britain's economy suffered no hit to its growth in the immediate aftermath of the June Brexit vote, according to GDP figures released on Friday, but the areas of economic growth have changed sharply.
The economy grew 0.6 percent in the third quarter, covering the period just after the referendum vote on June 23 that set Britain on a path to leave the European Union (EU).
The figures from the Office of National Statistics (ONS) are the first revision of the third quarter GDP figures, and the growth figure was increased by 0.1 percentage point on the back of extended statistical detail.
At the same time, the figure for the second quarter was revised down by 0.1 percentage point, to 0.6 percent. Growth in the first quarter of the year was also revised down to 0.3 percent, down 0.1 percentage point.
The main driver of the continued strong performance was consumer spending, seemingly undeterred by the sharp fall in sterling against foreign currencies, immediately after the Brexit vote.
It was 1.48 U.S. dollars to the pound on June 23, and fell immediately on June 24 to the low 1.20s. A further sharp fall to as low as 1.14 U.S. dollars followed in October, and it is now trading at 1.23 U.S. dollars.
Weak sterling will feed through to increased inflation throughout 2017, and the move has already begun, with November's CPI inflation at 1.2 percent, up 0.3 percentage points in October. But throughout the third quarter, consumers were undeterred by the fall.
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