The UK private sector growth picked up in the fourth quarter, the Confederation of British Industry said Thursday.
According to the latest growth indicator, the balance of firms reporting a rise in output was +19 percent, compared with +6 percent in the three months to November.
Looking ahead, the CBI said private sector growth is set to return to a more moribund pace of +4 percent over the next three months.
“Private sector firms are enjoying healthy activity levels as we approach the year end, but mediocre expectations for growth underline the ongoing challenges facing companies,” Anna Leach, CBI head of economic intelligence, said.
“Persistent cost pressures will ensure that inflation remains at a high level, perpetuating the squeeze on household spending, particularly impacting consumer-facing firms and retailers,” she said.
Source: RTT News