empty
 
 

2019.06.0302:05:00UTC+00UK Private Sector Activity Posts Flat Growth: CBI

UK private sector activity remained broadly unchanged in three months to May, the latest monthly growth indicator from the Confederation of British Industry showed Monday. The composite growth indicator, measuring growth across the distribution, manufacturing and service sectors, came in at -1 percent. The private sector logged the seventh consecutive rolling quarter of flat or falling volumes.

May's outturn reflected a continued decline in services volumes, balanced out by a pick-up in growth in distribution and steady manufacturing growth, the CBI said.

Looking ahead, private sector activity is expected to remain flat over the three months to August.

"Businesses continue to cite the ongoing drag from Brexit uncertainty, which is holding back key projects, pipelines of work and investment," Alpesh Paleja, CBI principal economist, said.

"To shift the economy up a gear, Parliament urgently needs to agree on a Brexit deal with the EU, and firmly rule out a damaging no deal scenario," the economist added.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback