Brexit news latest: Economy hits reverse gear as City raises no-deal fears

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Britain’s struggling economy returned to reverse gear in August, raising fresh City fears about the impact of a no-deal Brexit next month.

The nation’s GDP shrank by 0.1 per cent in the month after a surprisingly strong July when it surged by 0.4 per cent. The renewed downturn was mainly due to a big fall in manufacturing output.

The latest slip came as business leaders pleaded with the Prime Minister to “stay at the table” and not to “flinch” from making compromises ahead of a critical EU summit in a week’s time.

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