Business growth expectations hit weakest level since 2022

GROWTH expectations among private sector firms continue to decline rapidly, new figures suggest, with forecasts reaching their lowest level since September 2022.

- By Elliot Gulliver-Needham

According to the CBI's Growth Indicator survey, 30% more private-sector firms are expecting activity to fall rather than rise over the next three months.

Alpesh Paleja, deputy chief economist at the CBI, said: "There is little sign of summer cheer in our surveys.

"They were already pointing to weaker momentum than official data at the start of this year, and this sluggishness looks to have continued since."

Businesses now expect growth to slow more sharply than it did over the last three months in every sector except manufacturing.