CBI survey reveals bumper growth in private sector activity
03 Aug 2021
A survey carried out by the Confederation of British Industry (CBI) has revealed that in the three months to July, private sector activity across the UK economy grew 'robustly'.
Activity across the private sector showed a net balance of +33%, marking similar growth to the previous month.
The CBI found that growth is expected to remain strong over the next three months. Manufacturers expect a faster growth rate, whilst distribution firms anticipate a slight easing in the rate of growth.
Commenting on the survey, Alpesh Paleja, Lead Economist at the CBI, said: 'The economy has been motoring ahead since restrictions began to lift a few months ago. In particular, it is a welcome relief to see consumer services getting a chance to steady the ship as one of the last industries to open up properly. For some sectors, growth is inevitably starting to settle towards more 'normal' rates, after the initial surge in recent months.
'We must not take our eye off the ball, though. The economic recovery remains at risk from a number of supply-side bottlenecks, most notably the pingdemic.'