04/09/2014
Economic Growth Slows Down
Economic growth slowed in the three months to August, according to the CBI growth indicator.
However, expectations for the next quarter remain strong.
The survey of 771 respondents across manufacturing, retail and services showed continued growth in the private sector, with a balance of +21% in August. Whilst the pace of growth slowed to a five-month low, down from +29% in July, it remained well above average.
Rain Newton-Smith, CBI Director of Economics, said: "There are a few early signs that momentum in the economy may ease slightly in the second half of the year.
"However, growth is set to remain robust, and there are positive signs that the recovery is continuing along the right track.
"Alongside the strong showing from the retail sector, it’s encouraging that firms feel particularly upbeat about growth prospects as we head into the autumn.
"Businesses will continue to keep a weather eye on developments overseas, as subdued prospects in the Eurozone and international political uncertainty make the global economic environment that bit more challenging."
(CD/IT)
However, expectations for the next quarter remain strong.
The survey of 771 respondents across manufacturing, retail and services showed continued growth in the private sector, with a balance of +21% in August. Whilst the pace of growth slowed to a five-month low, down from +29% in July, it remained well above average.
Rain Newton-Smith, CBI Director of Economics, said: "There are a few early signs that momentum in the economy may ease slightly in the second half of the year.
"However, growth is set to remain robust, and there are positive signs that the recovery is continuing along the right track.
"Alongside the strong showing from the retail sector, it’s encouraging that firms feel particularly upbeat about growth prospects as we head into the autumn.
"Businesses will continue to keep a weather eye on developments overseas, as subdued prospects in the Eurozone and international political uncertainty make the global economic environment that bit more challenging."
(CD/IT)
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Northern Ireland WeatherToday:A sunny but frosty start for many. However cloud increases by midday with a few showers reaching the north coast, these mostly light but spreading inland this afternoon. Chilly. Maximum temperature 8 °C.Tonight:A rather cloudy evening with scattered showers. Becoming drier through the night with some good clear spells developing and a patchy frost away from coasts. Minimum temperature 0 °C.