Britain’s economy will grow faster this year than was predicted even before the referendum took place, analysts believe, proving wrong the dire forecasts that the Brexit result would push the UK into an instant recession.

Independent forecasts compiled by the Treasury show that the economy is performing far better than expected in the immediate aftermath of the vote.

In June the average economist thought GDP would grow by 1.8pc in 2016, a forecast which was slashed in the wake of the 23 June referendum. But since then the country has proved resilient, so economists now anticipate growth of 1.9pc for 2016.