The manufacturing sector is expected to drive UK economic growth and strengthen businesses over the next quarter according to the CBI's latest Growth Indicator.
UK economic growth held steady in the three months to March and the balance of expectations for business growth over the next three months (April – June) is +25%.
That represents an increase on the +18% that was actually recorded in March but also still represents a significant scaling back of expectations compared with this time last year.
However, businesses expect growth to strengthen, driven in particular by a pick-up in business & professional and consumer services, and in the manufacturing sector.
Katja Hall, CBI Deputy Director General, commented: “The outlook for 2015 looks encouraging. Our surveys show it’s been a solid start to the year with the prospect of stronger growth to come.
“The benefits of lower oil prices should be increasingly felt; with cheaper petrol boosting households’ incomes and spending power, and cutting costs for many businesses.”