Growth expectations hit record high

The CBI has claimed the economic outlook for the next three months is “exceptionally strong”. A survey of 675 firms has revealed that growth expectations for the period are at their highest since 2003, when the employers’ organisation began collecting data. While manufacturers reported good progress, it was businesses in the retail and services industries which showcased the strongest output growth. “These latest growth figures, and the strong expectations for the next quarter, provide further encouraging signs of increasing vigour and confidence across the UK economy,” remarked Katja Hall, the CBI’s chief policy director.