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UK growth slowing: CBI

data

The Confederation of British Industry's growth indicator fell to +19% in February, signalling that UK businesses expect the economy to post another strong quarter of growth in the first three months of the year, albeit at a slower pace that enjoyed during early 2014. The CBI said the tick down from January's +24% figure reflected a slowdown in the retail industry, which had been offset slightly by a rise in manufacturing and services. Whilst grocers and department stores in particular have felt the pinch, they remain confident about their near-term prospects. Looking forward, the CBI's outlook indicator also fell, dropping from +28% in January to +26% in February. The data comes as economists polled by Bloomberg predicted that despite a slowdown in GDP growth to 0.5% in the final quarter of 2014, output will rise by 0.6% in the first and second quarter of 2015, maintaining the UK's superior performance to that of the Eurozone.

 

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