Home / Knowledge / News / Textiles / UK economic growth steady but pace slowed: CBI
UK economic growth steady but pace slowed: CBI
01
Dec '15
Economic growth in the UK has remained steady in the three months to November 2015, but the pace was slower compared to a few months ago, according to the Confederation of British Industry (CBI), UK's premier business lobbying organisation.

The latest CBI Growth Indicator is based on the survey of 748 respondents, bringing together economic-activity survey data across the manufacturing, retail and service sectors, showed the pace of growth was broadly stable, having weakened over the last two months.

The number of firms reporting a rise in output was +13 per cent, a shade below the +14 per cent reported last month but above the long-run average of +5 per cent.

“Growth was mainly driven by the business and consumer service sectors with manufacturing remaining one of the more sluggish sectors in the economy and distribution taking a hit,” CBI said on its website.

For the next three months, expectations are the weakest in the last two years at + 17 per cent, but well-above the average of + 10 per cent.

“Growth in the economy is steady this month, but momentum is slower than in the first half of the year,” said Rain Newton-Smith, CBI director of Economics.

“Business and consumer services are stoking the economic fire, but while manufacturing has seen a modest improvement, firms in the sector are still expecting to see a fall in output,” she added.

According to her, “The main risks to the UK economy still stem from outside, particularly fragilities in emerging markets and the potential for global financial market volatility.” (RKS)

Fibre2Fashion News Desk – India


Must ReadView All

Pakistan’s FBR imposes 5% sales tax on cotton import

Textiles | On 21st Jul 2018

Pakistan’s FBR imposes 5% sales tax on cotton import

Pakistan’s Federal Board of Revenue recently withdrew sales tax...

Bangladesh drafts policy for Tk1,000 cr govt jute fund

Textiles | On 21st Jul 2018

Bangladesh drafts policy for Tk1,000 cr govt jute fund

Bangladesh will set up a Tk10,000-crore Jute Sector Development Fund...

Ahmad A. Al Sa’adi and Kwon Pyung-Oh display a comprehensive Memorandum of Understanding; Courtesy: Saudi Aramco

Textiles | On 21st Jul 2018

Saudi Aramco, KOTRA sign MoU for business cooperation

Saudi Aramco has signed an MoU with the Korea Trade-Investment...

Interviews View All

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


July 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search