World Economy

UK Growth Weakening

UK Growth Weakening UK Growth Weakening

The growth of the UK's economy is losing some momentum, figures from the Confederation of British Industry reveal, NewsNow reported. Growth across manufacturing, retail and service sectors remained steady, according to the CBI's latest growth indicator survey of more than 700 respondents. However, the latest forecasts suggest businesses expect over the coming three months growth will be at its weakest in two years. “Growth in the economy is steady this month, but momentum is slower than in the first half of the year," said director of economics at the CBI, Rain Newton-Smith. “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. The main risks to the UK economy still stem from outside, particularly fragilities in emerging markets and the potential for global financial market volatility.”