Firms expect surge in economic activity amid calls for Government to outline clear Brexit strategy

A new study shows that all sectors expect strong growth in the next three months

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The Independent Online

Companies believe there will be a surge in economic activity in the coming months, despite only recording slight growth in the last quarter, a report shows.

A survey of almost 800 private companies by the Confederation of British Industry (CBI) revealed a fall in business in the services industry, but healthy growth in manufacturing and distribution.

All sectors expect strong growth in the next three months, the study found.

Rain Newton-Smith, the CBI’s chief economist, said: “While the economy has seen slight growth this month, firms are confident that autumn will bring a surge in activity.

“Exporters continue to reap the benefits of a weaker sterling, but our services sector has not only felt a rise in uncertainty over demand, but also a drop in their sales volumes.

“With businesses keen to build momentum for the rest of the year and into 2017, they want the Government to outline clear plans for negotiations to leave the EU and deliver an Autumn Statement that will drive investment and deliver economic growth and prosperity.”

PA

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