Growth is slowing but still solid, CBI reports

The CBI has said that growth remains relatively solid despite Britain's economy having lost some momentum over the past three months. In its latest survey, the business organisation reported that manufacturing was the weakest part of the economy in the third quarter of this year. The CBI's growth indicator found businesses were generally upbeat about recent trade and optimistic about the months ahead. While the net balance of companies reporting growth slipped to 19%, down from September's 23%, the figure remains above the long-run average. Rain Newton-Smith, the CBI's director of economics, said: 'The economy is continuing to grow, at a slower but nonetheless solid pace.'


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