CBI: Economic growth steadies

Sarah Davidson

December 23, 2014

The speed of growth is expected to quicken in the next three months, but it will still be at a steadier pace than earlier in the year.

Rain Newton-Smith, CBI director of economics, said: “The economy is plotting a solid course as we head into Christmas. Whilst growth has slowed somewhat, this reflects a return to a steadier, more sustainable pace as the recent boost from pent-up demand fades.

“But the global backdrop remains a concern for firms. The weak Eurozone, slowing emerging markets and geopolitical tensions in the Middle East, Russia and Ukraine are headwinds to growth.

“While lower oil and fuel prices will leave more money in the pockets of households and businesses, it is also making life difficult for major oil producers.”

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