50927
UK Firms Expect Output Surge in Autumn
UK Firms Expect Output Surge in Autumn

UK Firms Expect Output Surge in Autumn

UK Firms Expect Output Surge in Autumn

British companies expect a surge in output in the final quarter of the year despite a slowdown in the three months to September, a survey showed, the latest sign that the country’s economy is largely coping with the shock vote to leave the European Union.
The Confederation of British Industry said on Sunday its growth indicator, based on a poll of companies, fell to +3 in the third quarter of 2016, down from +8 in the three months to August and the lowest since March, Reuters reported.
The measure showed manufacturing output grew as the fall in the value of sterling after the Brexit vote helped exporters. But retailers and consumer services were broadly flat and business and professional services fell slightly.
By contrast, expectations for the next three months jumped to +22, the highest level since September 2015 with growth expected across all sectors.
“Firms are confident that autumn will bring a surge in activity,” Rain Newton-Smith, the CBI’s chief economist, said.
Britain’s economy appears to have largely defied expectations of an immediate slump after the Brexit vote in June. Official data on Friday showed growth in the run-up to the referendum was higher than expected and the services sector grew strongly in July.
Newton-Smith said businesses wanted clarity on the government’s negotiating position in talks with the EU. They also wanted finance minister Philip Hammond to use his first budget statement on Nov. 23 to announce policies to “drive investment and deliver economic growth and prosperity”.
Separately on Sunday, a survey showed small and medium-sized firms were expecting a 1.5% acceleration of revenue growth in the year ahead but almost a quarter had put off making business decisions because of the Brexit vote.

Short URL : https://goo.gl/BWdCXO
  1. https://goo.gl/x8Dqtu
  • https://goo.gl/dSLaoP
  • https://goo.gl/Aprsgm
  • https://goo.gl/P3zjw6
  • https://goo.gl/WfYWf2

You can also read ...

 An overwhelming 86% of Germans believe their economy is doing well, up from 75% last year.
Conditions for investors around the world are getting worse....
Greece Remains Under Supervision
Greece will remain under supervision after it exits its...
Tax Reform  Can Boost  US Economy
The American electorate is more than ready for Washington...
South Korea’s jobless rate has risen steadily in recent years.
South Korea’s unemployment rate has risen steadily in the past...
Britons have been borrowing heavily through personal loans and credit cards over the last 18 months.
Consumer borrowing grew at almost 10% in August, official...
Pak GDP Growth Predicted at 10% Over 10 Years
Researchers from Harvard University’s center for international...
Jordan Economy Continues to Grow
While the public sector continues to play a prominent role in...
China Rust Belt Opens Doors
Trucks carrying hi-tech car components rumble in and out the...

Add new comment

Read our comment policy before posting your viewpoints

Image CAPTCHA
Enter the characters shown in the image.

Trending

Googleplus