CBI survey has growth edging up
Private sector growth picked up in the three months to April, according to the latest Growth Indicator survey from the Confederation of British Industry.
The survey by the employers' body found that of nearly 800 respondents, a balance of 10% of firms reported a rise in output in the quarter to April, up from 2% in March.
The balance is the difference between firms answering that output was up and those saying it was down, taking account of those who said it was unchanged.
Steady manufacturing output and a consumer services rebound were the main drivers of the pick-up, the CBI said.
Business and professional services also saw growth edge higher, but retailers reported an unexpected dip in sales volumes. The CBI said expectations for continued output growth over the next three months remained 'healthy' and above the long-run average.
Rain Newton-Smith, director of economics, said: 'There are signs that the economy is picking up as we put the tough start to the year behind us.'
Note: News bulletin content has been provided by a third-party and is not the opinion of Santander.
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