ET: UK economic growth holds steady, slowing manufacturing sector
UK - According to the CBI’s latest Growth Indicator, UK economic growth held steady in the three months to March and is expected to gather momentum over the next quarter.
While it shows stronger growth in the distribution (retail, wholesale & motor trades) and consumer services sectors in March, compared with the previous month, manufacturing reportedly showed weaker performance, where 11 of the 18 sub-sectors reported slowing growth since February, as well as in business services where firms have been feeling the effect of stronger competition. According to CBI Deputy Director General, Kaja Hall, there a prospects of more growth to come although a strong pound weighs down on export growth.
