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

Sri Lanka reduces VAT on imported fabric to 5%

Textiles | On 24th Sep 2018

Sri Lanka reduces VAT on imported fabric to 5%

Considering the requests made by the stakeholders in the fabric...

E-com firms in India to deduct 1% TCS under GST from Oct 1

Apparel/Garments | On 24th Sep 2018

E-com firms in India to deduct 1% TCS under GST from Oct 1

E-commerce companies in India will have to deduct 1 per cent tax...

Courtesy: Andritz

Textiles | On 24th Sep 2018

'Strength of economy, demographics drive nonwovens demand'

The strength of the economy and demographic trends are the main...

Interviews View All

Siddharth Biyani, Mangalam Industries Pvt Ltd

Siddharth Biyani
Mangalam Industries Pvt Ltd

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

Ghanshyam Ghoghari, Kimora Fashion

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Vidhyaa Shankar. S, A Ganapathi Chettiar

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Franco Ravazzi,

Franco Ravazzi

Italy-based Tessimenti E Orditi Tinti (T.O.T SRL) specialises in stocking...

Yash Jain & Sanjeev Jain,

Yash Jain & Sanjeev Jain

Divyam Export, launched about 30 years ago, exports to 15 countries,...

Kalai Selvi,

Kalai Selvi

Vidyashilp Academy in Bengaluru is the country's first Fairtrade School....

Luis Quijano, Liberty University

Luis Quijano
Liberty University

Focusing on bold patterns and colour palettes, Luis Quijano, a student at...

Suresh Patel, Sidwin Fabric

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Prof Seokheun (Sean) Choi, Binghamton University, State University of New York (SUNY)

Prof Seokheun (Sean) Choi
Binghamton University, State University of New York (SUNY)

A team of researchers from the State University of New York (SUNY),...

Rupa Sood and Sharan Apparao, Nayaab

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Ritu Kumar, Label Ritu Kumar

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Yash P. Kotak, Bombay Hemp Company

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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


September 2018

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

news category


Related Categories:

Advanced Search