The UK’s private sector shrank for the 8th quarter in a row at the start of 2023 but is expected to return to growth in the next quarter, according to new research. The Confederation for British Industry (CBI) said in its latest growth report that activity across the UK private sector contracted by around 4…
UK Private Sector Contracts for 8th Consecutive Quarter, New Research Shows
British Manufacturing Output Falls at Fastest Pace Since 2020: Survey
British manufacturers’ output is falling at the fastest pace in more than two years, the UK’s largest business group has warned. The volume of goods and services produced by factories fell by 9 percent in the three months to December 2022, according to the latest Industrial Trends Survey conducted by the Confederation of British Industry…
Thousands of UK Firms Cut Ties With China Amid Rising Tensions: Industry Group
July 31, 2022
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Thousands of British businesses are cutting their economic ties with China as they anticipate faster decoupling between China and the West, a major UK business group has said. Confederation of British Industry (CBI) Director-General Tony Danker said thousands of companies in the UK are currently rethinking their supply chains in anticipation of hardening anti-China political…
Omicron Slows UK Growth to Weakest Since April: CBI
LONDON—British businesses grew at the slowest pace since April 2021 during the past three months, after demand for face-to-face services slumped due to the Omicron variant of coronavirus, the Confederation of British Industry said on Sunday. Britain’s economy only recovered to its pre-pandemic size in November, before being hit by the highly infectious Omicron variant…
UK Services Industry Sees Record Cost Inflation: CBI
LONDON—Costs are rising at the fastest rate in over 20 years for firms in Britain’s services sector, according to a business survey released on Tuesday which shows why the Bank of England may soon raise interest rates. The Confederation of British Industry said its quarterly survey of the services sector showed the quickest growth in…
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