UK economy records stable, steady growth

The UK economy has recorded a stable rate of growth in the three months to November, figures obtained from the CBI’s latest Growth Indicator were able to reveal.

The survey of 742 businesses found that, overall, growth was slightly stronger in manufacturing, with output up in 15 of the 18 sub-sectors, as well as in the consumer & business professional services.

Despite the positive trend, rxpectations for growth are not as strong as earlier in the year but are well above their long-run average.

The balance of +26% for the next three months is virtually unchanged from +25% in October and +27% in September. But this represents a scaling back of expectations compared with earlier in the year. For example, the balance was +42% in April (the year’s highest) and +38% in August.

Rain Newton-Smith, CBI Director for Economics, said: “Previously pent-up demand delivered a strong boost to growth during the first half of the year but this effect may be fading. The UK is continuing to expand on a healthy trajectory, returning now to steadier and more sustainable growth rates.”

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