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Outputs growing fastest since 2007, say CBI

The volume of national output for the three months to January grew at its fastest pace since 2007, and the outlook for the first quarter of this year looks good.

A report from the CBI ahead of today’s GDP figures from the ONS shows output volumes grew +30% - the fastest since September 2007.

The business body’s Growth Indicator report suggests growth occurred across business the professional services, consumer, distribution and manufacturing sectors.

Katja Hall, CBI chief policy director, said: “A picture is unfolding of a real upsurge in output across much of the UK economy. Many firms in many sectors are feeling brighter about their prospects than they have for a long time, showing the recovery is gaining traction.

“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.

“The new CBI Growth Indicator will be an important barometer of the UK’s current and near-term economic performance, covering around three-quarters of the private sector.”

This was posted in Bdaily's Members' News section by Tom Keighley .