Log in
Forgot password ?
Become a member for free
Sign up
Dynamic quotes

school135perm Homepage > News > Economy & Forex > All News

News : Economy & Forex

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors
All NewsEconomyCurrencies / ForexEconomic EventsPress releases

UK firms see fourth-quarter pickup, expect slowdown in early 2018 - CBI

12/28/2017 | 10:45am CET
London buses cross Waterloo Bridge, with the City of London financial district seen behind in London, Britain

British businesses reported a pickup in growth in the three months to December but they expect a slowdown in early 2018 as high inflation takes its toll on households, the Confederation of British Industry said on Thursday.

The CBI's monthly growth indicator - based on surveys of how companies' output has changed over the previous three months - jumped to +19 in December from +6 in November, which was the joint lowest level in more than a year.

Growth was broad-based across sectors, the CBI said.

By contrast, the forward-looking component of the CBI growth survey fell to +4, its lowest level since immediately after the Brexit vote in June 2016, from +6 in November.

"Persistent cost pressures will ensure inflation remains at a high level, perpetuating the squeeze on household spending, particularly impacting consumer-facing firms and retailers," Anna Leach, the CBI's head of economic intelligence, said.

British inflation hit its highest level in nearly six years in November when it rose to 3.1 percent, pushed up in large part by the fall in the value of the pound after voters decided to take the country out of the European Union.

Wages have been growing more slowly than prices and official data released last week showed households increased their spending at the slowest pace since 2012 in the July-September period.

The pinch on consumer spending and uncertainty for many companies about what Brexit means for them has weighed on Britain's overall economy which has grown more slowly than its peers in Europe this year.

Many forecasters expect growth will remain sluggish in 2018.

The CBI growth indicator is based on a combination of its surveys of manufacturers, retail and distribution companies and business and professional services firms, which it says covers about three quarters of the private-sector economy.

(Writing by William Schomberg; Editing by Andrew Heavens)

Latest news "Economy & Forex"
07:35aU.S. oil industry set to break record, upend global trade
07:33aOil prices near three-year highs, supported by healthy demand
07:33aOil prices near three-year highs, supported by healthy demand
07:16aNEWS HIGHLIGHTS : Top Global Markets News of the Day
07:16aNEWS HIGHLIGHTS : Top Company News of the Day
07:14aCALIFORNIA COTTON GINNERS AND GROWERS ASSOCIATION : Latest News- Irrigation & Nitrogen Management Plan Grower Self-Certification Training
07:13aEuro steady near three-year highs; dollar edges up vs yen
07:12aASIA MARKETS : Asian Stocks Bounce Back, Hang Seng Aims For A Record
06:53aPBOC official says China's centralised virtual currency trade needs to end - source
Latest news "Economy & Forex"
Copyright © 2018 Surperformance. All rights reserved.