Open

Latest news

Explore insightful perspectives and expert advice on finance

Home |Latest news |Private sector activity at a standstill, warns CBI

Latest news

Browse by category
Business News

Private sector activity at a standstill, warns CBI

August 03 2022

Private sector activity is at a standstill as rising prices continue to take their toll, the Confederation of British Industry (CBI) has warned.

According to the CBI's latest Growth Indicator activity remained sluggish in the three months to July.

The CBI said that sectoral performance was mixed, with activity across business and professional services growing at a quicker pace than the previous month. However, consumer services activity continued to fall while growth in manufacturing output slowed on the previous month.

Alpesh Paleja, CBI Lead Economist, said: 'As firms and consumers continue to be buffeted by rising prices, private sector activity has slowed to a near standstill. With the announcement of a further rise in the energy price cap now just weeks away, consumer-facing firms will also be bracing for an even tighter squeeze on household incomes in the months ahead.

'Consumer spending isn't going to restart the engine on growth this time. Boosting business investment will help to fill the void left by households, but incentives need to be bold, or they won't scratch the surface.'

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.