Britain's economy 'growing at fastest pace since 2007' crash, says CBI
Britain's economic output grew at its fastest pace in January since September 2007, the Confederation of British Industry said today
The output growth balance rose to +30 in the three months to January from +26 in the three months to December- the strongest since the financial crisis started.
Katja Hall, chief policy director at the CBI said: "A picture is unfolding of a real upsurge in output across much of the UK economy."
But warned that businesses need to do more to help the recovery.
She added: "We certainly need companies investing more and creating a bigger footprint in fast-growing markets, and while some risks remain, we expect the economy to continue to strengthen through 2014."
Official gross domestic product numbers due at 9.30 am are expected to show the economy grew 0.7 per cent in the fourth quarter, compared with 0.8 per cent in the third quarter. This represents an annual expansion of 2.8 per cent- one of the fastest among advanced economies- and equates to overall gross domestic product growth of 1.9 per cent in 2013.
Last week, the International Monetary Fund upgraded the UK's growth forecast to 2.4 per cent from 1.9 per cent- beating all other nations- in a fresh boost for George Osborne.
In November, the Bank of England forecast growth of 0.9 per cent in the last three months of 2013, taking full-year growth to 1.6 per cent from the 1.4 per cent forecast in August, with Mark Carney announcing the UK's economic recovery had "finally taken hold".
- 1 Howard Jacobson: Let's see the 'criticism' of Israel for what it really is
- 2 Game of Thrones author George RR Martin says 'f*** you' to fans who fear he will die before finishing Westeros saga
- 3 Belgium fan Axelle Despiegelaere lands L'Oreal campaign after World Cup viral photo
- 4 Britney Spears sings 'Alien' without Auto-Tune in embarrassingly brilliant leaked audio clip
- 5 PornHub begs users to stop uploading video clips of Brazil getting beaten 7-1
Game of Thrones author George RR Martin says 'f*** you' to fans who fear he will die before finishing Westeros saga
Instagram of US airport security chiefs: Lipstick knives and IED training kits among items seized
‘Ryan Gosling got someone pregnant and it's not me. Brazil you think you’re devastated…’
Israel-Palestine crisis: ‘We just want it to end… We don’t deserve to live like this’
Israel-Palestine crisis: Eight killed in Gaza Strip cafe while watching World Cup semi-final
Sustained immigration has not harmed Britons' employment, say government advisers
Australia facing international condemnation after turning around Sri Lankans at sea
7/7 memorial defaced on anniversary of 2005 attacks with ‘Blair lied thousands died’ graffiti
Even when it brutalises one of its own teenage citizens, America is helpless against Israel
There’s a nasty smell in the political air – and it’s coming from the Tories
Vanessa Feltz criticises 'vile' reaction to Rolf Harris allegations
iJobs Money & Business
£60000 - £75000 per annum: Harrington Starr: Business Analyst Consultant (Fina...
£60000 per annum: Harrington Starr: A leading provider in investment managemen...
£600 - £700 per day: Harrington Starr: AVS, JVS Openlink Endur Developer JVS, ...
£30000 per annum: Harrington Starr: A global leader in trading platforms and e...