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Financial News: UK Private Sector Growth Slows In September: CBI

UK Private Sector Growth Slows In September: CBI

10/02/2017 - 00:34:00 (RTTNews)

(RTTNews) - UK private sector growth slowed in three months to September, according to growth indicator released by the Confederation of British Industry.

The balance of firms reporting an increase in output fell to +11 percent from +14 percent in three months to August.

Private sector firms expect growth to pick up over the next three months, with balance rising to +18 percent.

"Growth in the economy has held steady through the summer, although at a slightly slower pace than expected by many firms," Rain Newton-Smith, CBI chief economist, said.

"While we saw growth in most sectors, consumer-facing businesses are having a tougher time of it as inflation tightens purse strings a little more," Newton-Smith added.

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