Open

Latest news

Explore insightful perspectives and expert advice on finance

Home |Latest news |Private sector activity falls in November

Latest news

Browse by category
Business News

Private sector activity falls in November

December 01 2023

Private sector activity continued to fall in the three months to November, according to the Confederation of British Industry's (CBI) latest Growth Indicator.

The Growth Indicator's weighted balance was -11%, down from -7% the previous month and the CBI says there's 'no sign of any let-up over the coming quarter'.

The CBI's figures show that activity has now contracted for the last 16 rolling quarters. Services business volumes were down -9% in the three months to November while the business & professional sector was down -9% and consumer down -5%.

Manufacturing output also declined -17% in the three months to November. 

Private sector activity is expected to remain broadly unchanged over the next three months, the CBI said.

Alpesh Paleja, CBI Lead Economist, said:?'Widespread weakness is indicative of the broad headwinds facing the UK economy with demand squeezed by high interest rates and inflation while staff and skill shortages hold back businesses operations. Investment has become challenging under these conditions, but it is the best way to boost productivity and ultimately revive economic growth.  

'The Chancellor's decision to make Full Expensing a permanent feature of the tax system represents a significant step towards breaking the UK's low growth cycle. However, expanding the UK economy's productive capacity will also require a healthy and able workforce. A focus on occupational health to support people back into work and prevent ill-health could be bolstered by making Employee Assistance Programmes tax free.' 

Here to help

Please complete the form below and our expert team will be in touch.

  • Contact details

    • *
    • *

  • What services are you interested in?

    • *

  • Message

    • *

  • Which location would you like to contact?

  • Communication

    • *Indicates a required fields.†At least one form of contact is required.

      By submitting this form, you agree that Attwoods can process your information in order to respond to your enquiry. For more information visit our Privacy Policy.

Bromsgrove
Bromsgrove

Attwoods is proudly based in the historic market town of Bromsgrove, Worcestershire

  • 182 Worcester Road
  • Bromsgrove
  • Worcestershire
  • B61 7AZ
Call us01527 874170
Learn more about BromsgroveGet in touch
Evesham
Evesham

Attwoods is proudly based in the picturesque town of Evesham, Worcestershire; nestled in the heart of the Vale of Evesham

  • 90-92 High Street
  • Evesham
  • Worcestershire
  • WR11 4EU
Call us01386 424388
Learn more about EveshamGet in touch
Pershore
Pershore

Attwoods is proudly based in the Georgian market town of Pershore, Worcestershire.

  • Perrott House
  • 17 Bridge Street
  • Pershore
  • Worcestershire
  • WR10 1AJ
Call us01386 554870
Learn more about PershoreGet in touch
  • Xero Logo
  • Gold Partner Logo
  • Sage
  • QuickBooks Platinum

The practices of Attwoods are carried on by Attwoods Accountants Limited, Attwoods Business Services Limited, Attwoods (Bromsgrove) Limited. Regulated for a range of investment business activities by the Association of Chartered Certified Accountants.