The UK economy seems to show a significant slowdown after a strong second quarter, said NIESR, based on data obtained mainly before voters decided last month to leave the European Union.

Warning from the National Institute of Economic and Social Research (NIESR) comes from some of the early signs that businesses and consumers can suffer from the uncertainty created by the June 23 referendum.

NIESR estimated the UK economy grew by 0.6 percent in the second quarter, compared with an increase of 0.4 percent in the first three months of the year.

But NIESR warned that the acceleration was due to a sharp increase in activity in April, adding that gross domestic product is likely to remain at the same level in May and in June decline.