Britain’s economy will hold up strongly for the rest of this year, defying warnings of an immediate Brexit collapse, the Organisation for Economic Co-operation and Development has predicted.

Performing somewhat of a post-Brexit u-turn, the international body has increased its 2016 growth forecast modestly, raising its gross domestic product (GDP) predictions from 1.7pc in its June update to 1.8pc now.

The organisation had warned of a "large negative shock" were the UK to vote to leave the EU ahead of the June 23 referendum.

Britain’s improved figure came even as the OECD trimmed its forecasts for most other large economies this year, citing weak trade growth and poor productivity.