14 January 2019
Total business volumes in the financial services sector fell slightly in the three months to December, marking the first contraction of demand since September 2013. That’s according to the latest CBI/PwC Financial Services Survey.
2 December 2018
UK private sector activity was unchanged in the quarter to November, according to the latest CBI Growth Indicator.
The composite measure – based on 663 respondents across the distribution, manufacturing and service sectors – showed the balance of firms reporting a rise in output at +2%, down from +10% in the three months to October.
The slowdown in private sector activity growth was driven by weaker performances in services and distribution. Meanwhile, manufacturing growth picked up slightly.
Looking ahead, private sector activity is expected to remain steady over the three months to February (+3%), with slower growth in manufacturing and falling volumes in services, partially offset by stronger growth in distribution.
The CBI Growth Indicator is consistent with slow and steady growth momentum as detailed in our June Economic Forecast. Underlying conditions remain lacklustre, with household spending under pressure from squeezed real earnings and uncertainty restraining business investment.
Rain Newton-Smith, CBI Chief Economist, said:
“Private sector activity seems relatively stable as we head towards the end of the year. Businesses expect little change over the quarter ahead.
“The various papers which have been published in the last seven days lay bare the potential costs of a no deal Brexit, which would hit jobs and livelihoods across the country.
“While the current deal on offer is not perfect, businesses need the assurance that they won’t face a cliff-edge break with the EU in four months’ time in order to create new jobs and invest further in the UK.”
14 January 2019
10 January 2019
The UK settled into a lower gear at the end of 2018, as the summer boost to Q3 growth faded away. GDP growth in the month to October was almost flat, and business surveys (from both the CBI and IHS Markit/CIPS) suggested that a tepid pace of expansion continued into December.
24 December 2018
UK private sector activity was stable in the quarter to December, according to the latest CBI Growth Indicator.