UK Economy
UK recovery continues at robust pace
By Finfacts Team
Jun 26, 2014 - 3:26 PM

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As strong output growth continues and rising business investment supports the sustainability of the recovery, the UK economy has continued to grow briskly in the second quarter, according to the latest CBI growth indicator, which is produced by the UK's top business lobby.

The survey of 830 respondents across the manufacturing, retail and service sectors again registered robust growth, with a balance of +29%. While the pace of output growth eased slightly in the three months to June, down from a record figure in May, expectations for the next quarter are for a strong pick-up. A balance of +41% of respondents believe that output will increase further in the three months ahead.

Demand for UK manufacturing strengthened and while sales growth in the distribution sector slowed, expectations for the next quarter are among the strongest on record. For the business & professional and consumer services sector growth continued at a solid pace in the three months to June.

Katja Hall, CBI deputy director-general, said: “Our growth indicator provides firm evidence that UK GDP is now returning to its pre-recession peak, as the recovery forges ahead

“The solid pace of growth across several sectors shows that confidence among firms is still rising.

“Businesses will be carefully monitoring events in Ukraine and parts of the Middle East, where difficult situations are likely to have an adverse impact on the price of oil and other global commodities.”

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