Private sector firms forecast ongoing declines in activity, with a weighted balance of -18% expected over the next three months, according to the latest CBI Growth Indicator. The services sector anticipates a significant drop in business volumes, especially in consumer services (-34%). Distribution sales are also expected to decline sharply (-27%). While manufacturers project flat output (-2%), sentiment has worsened since last month. The economic outlook remains bleak as cost pressures and uncertainties, particularly regarding US tariffs, weigh heavily on business and consumer sentiment. The Chancellor's commitment to not increase the financial burden on businesses is noted, with a call for long-term growth measures.
Private sector firms expect continued activity decline (weighted balance of -18%), with business volumes in services and distribution sales facing significant drops.
Business volumes in the services sector are expected to drop by -20%, with professionals and consumer services both facing steep declines.
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