This website uses cookies primarily for visitor analytics. Certain pages will ask you to fill in contact details to receive additional information. On these pages you have the option of having the site log your details for future visits. Indicating you want the site to remember your details will place a cookie on your device. To view our full cookie policy, please click here. You can also view it at any time by going to our Contact Us page.

Stable UK economy but concern over risk is growing, says latest CBI industry survey

01 June 2016

A steady performance by the UK private was sector was reported by the CBI in its latest Growth Indicator for May, but there is increasing concern over risks.

Uncertainty over the global economy and the outcome of the UK's referendum on EU membership are worrying issues for businesses, says the CBI.

After surveying 785 respondents across the service, distribution and manufacturing sectors, it says that growth output increased by 11% in May, compared with 10% in April.

There expectations of a 13% increase over the next three months, although this is exactly half the average seen for this period from the previous three years.

Both the services and manufacturing sectors saw growth in the last three months, while retailers reported falling sales, the CBI reports.

Director of economics Rain Newton-Smith said the risks caused by uncertainty and the EU referendum "are clear as day".

"Expectations for growth have slipped and are well below the levels of the last few years, with uncertainty swirling around the pace of output and the impact from risks on the horizon."

The CBI Growth Indicator is a composite of data on output, sales and business volumes using three long-running UK business studies, including the Industrial Trends Survey, the Distributive Trades Survey and the Service Sector Survey.

Print this page | E-mail this page


Article image Why the Law Says You Need a Nappy Bin Disposal Service

At home, parents are used to disposing of their babies’ used nappies the same way they do any other domestic waste - bagging it up and sticking it in the rubbish for general collection.Full Story...

Article image Jail sentence for company director for sale of illegal products

After ignoring action and instructions from the Health and Safety Executive (HSE), a company director has been sentenced to 10 months in prison.Full Story...

Infrastructure woes lead to Amey being advertised for sale

Supply chain business owner speaks out on anniversary of Carillion collapse

Further expansion announced by IFMA