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Economic growth slows with manufacturing sluggish, says CBI

Published 29/11/2015

The CBI reports economic growth remaining 'steady' in the past few months, although momentum has slowed
The CBI reports economic growth remaining 'steady' in the past few months, although momentum has slowed

Economic growth has remained "steady" in the past few months, although momentum has slowed, according to a business study.

The CBI said growth was mainly driven by firms in business and consumer services, while manufacturing was said to be "sluggish".

Expectations for growth in the coming quarter are the weakest for two years, the survey of almost 750 firms revealed.

Rain Newton-Smith, the CBI's director of economics, said: "Growth in the economy is steady this month, but momentum is slower than in the first half of the year.

"Business and consumer services are stoking the economic fire, but while manufacturing has seen a modest improvement, firms in the sector are still expecting to see a fall in output.

"The main risks to the UK economy still stem from outside, particularly fragilities in emerging markets and the potential for global financial market volatility."

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