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Brexit deals heavy hit to UK economy but eurozone holds up

Britain's economy appears to be shrinking at its fastest pace since the global financial crisis as a result of the vote to leave the European Union, but the rest of the region is holding up, surveys showed Friday.

The findings come as global financial leaders meeting in China identified the uncertainty generated by Britain's decision to exit the EU, the world's biggest economic bloc, as a key risk to the global economy.

But while the International Monetary Fund has trimmed its world growth estimates, surveys of hundreds of business executives in Europe indicate the economic damage is so far largely contained to Britain.

The so-called purchasing managers' index for...

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