WIREDGOV

Private sector growth remained steady in the three months to November, according to the CBI’s latest Growth Indicator.

The survey of 715 respondents across the manufacturing, distribution and service sectors showed the pace of growth rose to a balance of +9%, compared with +8% in the three months to October.

Performance across the sectors was mixed, however, with retailers and consumer facing companies reporting a rise in growth, whilst manufacturers saw a slower pace of growth. Growth in business and professional services, meanwhile, was broadly flat for a second month.

Businesses across most sectors expect to see a slightly higher rate of growth continue across most sectors over the next quarter (+11%).

Rain Newton-Smith, CBI Chief Economist, said:

“It’s encouraging to see that growth in the private sector continues to perk up, and that steady growth is expected as we head into 2017.

“The High Street has had a good month, even before we see the impact of Black Friday and Christmas shopping, whilst our manufacturers and services sector are seeing subdued growth.

“Businesses will be pleased by the welcome measures in the Autumn Statement to unlock research and development spending, spur innovation and upgrade crucial infrastructure. By further prioritising spending, the Government can seize the opportunities to deliver growth and prosperity across the UK’s regions and nations.”