World Economy

UK Economy to Remain ‘Solid’

UK Economy to Remain ‘Solid’UK Economy to Remain ‘Solid’

British firms have predicted that the economy should sustain a “solid” pace of growth for the rest of the year thanks to lower oil prices and inflation, NewsNow reported. “Despite an easing in performance this month, activity over the quarter as a whole has been good. The economy is expected to sustain a solid pace of growth over the remainder of the year as lower oil prices and inflation continue to boost real incomes and consumer spending. But exporters face real challenges, especially from the impact of a stronger pound against the euro and still weak global export markets,” Rain Newton-Smith, The Confederation of British Industries director of economics said. The CBI said a survey of over 750 firms showed that the rate of growth slowed in the quarter to June, largely due to a fast pace last month in business and professional services not being sustained. Manufacturing growth remained “moderate”.