Private sector growth picks up
Private sector growth picked up pace in the three months to December, according to the CBI’s latest Growth Indicator, the final one of 2016.
The survey of 788 respondents across the manufacturing, distribution and service sectors showed that growth climbed to a balance of +17%, its highest in a year.
Most sectors reported an uptick in activity. The manufacturing sector saw a strong rise and while the retail sector saw somewhat slower growth compared to November, the rise in sales remained solid.
Looking ahead to 2017, companies across most sectors expect to see similarly healthy growth (+15%) over the next three months.
Alpesh Paleja, CBI principal economist, said: “With the fresh slate of a New Year on the horizon, British businesses will be looking to the Government for as much clarity as possible on upcoming EU negotiations, and want to work together to develop a post-Brexit economy that sustains growth and prosperity for all.”