WIREDGOV

CBI recently (12 May 2023) responded to quarterly GDP figures.

Ben Jones, CBI Lead Economist, recently said: 

“The UK economy is proving more resilient than widely expected and it looks increasingly likely that the UK will avoid a recession this year. Underlying momentum appears to be firming, with our surveys showing growth expectations for the quarter ahead creeping back into positive territory for the first time in a year. 

“Nonetheless, this is still going to be a difficult year for many UK households and businesses. Whilst we anticipate that inflation will slow rapidly through the summer, higher interest rates will act as a drag on spending. But we are likely to have weathered the worst of the storm, and expect a mild economic recovery in the year ahead.”