max temp: 11°C

min temp: 8°C

ESTD 1874 Search

Economy: Recovery continuing to gather pace, according to latest CBI Growth Indicator

06:00 28 April 2014

Katja Hall, CBI chief policy director.

Katja Hall, CBI chief policy director.


Economic growth continued to gather pace in April, alongside predictions of even stronger growth in the next quarter, according to the latest CBI Growth Indicator, out today.


Output rose from the eight-month low recorded in the previous month, and remains well above average, indicating that the UK’s economic recovery is steadily advancing.

Growth strengthened across the retail and service sectors, while manufacturing output growth remained solid.

The outlook for the next three months is exceptionally strong and broad-based, with growth expectations the strongest since the data began in 2003.

The survey of 675 respondents across manufacturing, retail and services recorded solid growth in activity, with a balance of +25%, up from +19% in March. Firms are optimistic that growth will pick up again over the next quarter, with the expectations balance at a record +42%.

Katja Hall, CBI chief policy director, said: “These latest growth figures, and the strong expectations for the next quarter, provide further encouraging signs of increasing vigour and confidence across the UK economy.

“While consumer spending accounted for the lion’s share of GDP growth last year, there are firm indications of growth becoming more broad-based. It’s good to see that business investment has consistently contributed to quarterly growth since 2013.

“We expect growth to strengthen in 2014, underpinned partly by rising business and consumer confidence and supportive monetary conditions. Productivity and earnings are also expected to start recovering this year.”

The CBI composite survey indicator, first published in January 2014, brings together CBI surveys of economic activity into an aggregate index. The indicator includes survey results for output volumes as reported on a monthly basis for the manufacturing, consumer, business & professional services, and sales volumes for the distribution sector. It offers an early perspective on the pace of economic growth and covers around 75% of the private sector economy.

The CBI Growth Indicator for April 2014 is a composite of the Industrial Trends Survey, Distributive Trades Survey and Service Sector Survey.



Welcome , please leave your message below.

Optional - JPG files only
Optional - MP3 files only
Optional - 3GP, AVI, MOV, MPG or WMV files

Please log in to leave a comment and share your views with other East Anglian Daily Times visitors.

We enable people to post comments with the aim of encouraging open debate.

Only people who register and sign up to our terms and conditions can post comments. These terms and conditions explain our house rules and legal guidelines.

Comments are not edited by East Anglian Daily Times staff prior to publication but may be automatically filtered.

If you have a complaint about a comment please contact us by clicking on the Report This Comment button next to the comment.

Not a member yet?

Register to create your own unique East Anglian Daily Times account for free.

Signing up is free, quick and easy and offers you the chance to add comments, personalise the site with local information picked just for you, and more.

Sign up now

Paul Farrow, left, of Thomas Ridley, with Stuart Danson of Chassis Cab with with the new trucks for the fleet.

A family-owned dealership sealed a deal worth more than £1million to deliver new trucks to a food service firm based at Rougham, near Bury St Edmunds.

Amazon associates picking and packing customer orders at the Amazon fulfilment centre at Hemel Hempstead, Hertfordshire. Photo:  Nick Ansell/PA Wire

Shoppers are expected to spend almost £1billion online as retailers unleash another set of bargain deals on Cyber Monday.

Ian White, managing director at Beckett Financial Services.

Beckett Financial Services has been ranked as one of the UK’s top 100 independent financial advisers by industry magazine New Model Adviser.

Josh Eames and Ryan Scillitoe of Perrywood Garden Centre and Nurseries in Tiptree who have have raised more than £5,000 for charity through a 1,000-mile cyclinge challenge.

Josh Eames and Ryan Scillitoe from Perrywood Garden Centre and Nurseries in Tiptree have raised more than £5,000 for charity through a 1,000 mile cycle challenge.

The Leading Lives team receive their tropy at the Social Enterprise UK Awards in London.

Ipswich-based Leading Lives has been named Health and Social Care Social Enterprise of the Year at the Social Enterprise UK Awards.

Most read

Most commented

Topic pages

Local business directory

Our trusted business finder

Property search

e.g. Oxford or NW3
Powered by Zoopla

Digital Edition

Read the East Anglian Daily Times e-edition today E-edition

Great British Life

Great British Life
MyDate24 MyPhotos24