While there are huge uncertainties ahead, the UK economy has entered the formal countdown to Brexit with decent momentum. Against this background, we see no reason to alter our long-standing view that Brexit will prove to be rather be less damaging than many forecasters still anticipate. We have nudged our forecast for GDP growth in 2017 up from 1.8% to 2.0% and expect growth of about 2.3% in 2018 and 2% in 2019, the year of Brexit itself.
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