CBI comments on first 2018 GDP data

Alpesh Paleja, CBI Principal Economist, said:

“While the Beast from the East has clearly had an impact on economic growth, particularly on the construction and retail sectors, the ONS also highlighted weaker growth in other sectors, especially manufacturing.

“More broadly, momentum in the economy has remained subdued over the past year, as the squeeze on real pay has held back household spending and businesses have been grappling with ongoing uncertainty over Brexit.

“To give businesses the reassurance they need, and build on the recent progress in agreeing a transition period, other hurdles on the Brexit path need to be cleared in