Newton-Smith

UK Economic Growth Slowest in Three Years

UK Economic Growth Slowest in Three Years

The UK’s economic growth is at its lowest in three years, according to a report by the Confederation of British Industry (CBI). The survey of 759 respondents across the manufacturing, retail and services sectors, showed the pace of growth has dropped to its slowest rate since May 2013. Last week official figures put UK growth at 0.5% in the last quarter of 2015, the slowest for three years. The slowdown was mainly driven by the business and professional services sector – which includes management, legal services and telecoms. In the manufacturing sector, output and new orders were flat, but growth in the consumer services sector remained consistent, and retail sales volumes grew at an above average pace. Despite the negative trend, the outlook for businesses over the next three months is m... »