LONDON, Oct 30 (Reuters) – British businesses think the gloom hanging over their prospects will persist in the coming months, according to an industry survey published on Sunday.
The Confederation of British Industry’s (CBI) gauge of private sector growth in the three months to October rose to -15 from -19 in the three months to September, still in contraction territory.
For the next three months, services and distribution companies expect a further downturn, although manufacturers were more optimistic.
“Notwithstanding a mixed picture across sectors, the private sector continues to face considerable headwinds,” said Alpesh Paleja, CBI lead economist.
“Amid rising costs, labour shortages and demand waning, businesses foresee a continued fall in activity over the next three months.”
Paleja said it was vital that new Prime Minister Rishi Sunak restores stability to the economic environment in order to snap companies out of their malaise.
The CBI survey was based on responses from 624 companies, surveyed between Sept. 26 and Oct. 13.
Reporting by Andy Bruce; Editing by Alistair Smout
U.S. President Donald Trump left China on Friday with no major breakthroughs on trade or tangible help from Beijing to end the Iran war, despite two days spent heaping praise on his host...
The Cyprus Presidency has activated the EU’s Integrated Political Crisis Response (IPCR) arrangements as part of efforts to monitor the hantavirus outbreak that has prompted increased vi...
Updated 1230
Malta to Launch AI-Powered Traffic Control Centre Within Months: Transport Malta’s upgraded national traffic control centre is set to begin using artificial intelligence ...
Morning Briefing
DOmestic demand, exports drive growth in Q4 of last year - CBM
The Central Bank of Malta said the Maltese economy continued to grow strongly during the final quart...
The European Parliament has thrown its weight behind demands for a bigger long-term EU budget, approving its position for negotiations on the bloc’s next seven-year financial framework f...
Disinformation is no longer spreading only through fringe actors or political agitators, but through a digital system that rewards outrage, sensationalism and engagement above accuracy, ...
Microsoft is shopping for artificial-intelligence startups as the software company prepares for a future independent of its once-vital partner OpenAI, five people familiar with the matt...
Electrolux plans to lay off 1,700 people in Italy, more than 40% of its workforce in the country, and close one of its plants there, Italian trade unions said on Monday.
The Swedish ...
“A company’s workplace culture praised by management, needs to be taken with caution. But when the recognition comes directly from employees, that carries greater weight,” says JONATHAN ...
EU lawmakers have approved new rules aimed at strengthening how failing banks are managed, extending protections to a wider range of institutions and depositors across the bloc.
The p...
The regeneration project of Birgu’s main square by Studjurban completed last year, gained further international attention with a Special Mention award at the internationally recognised A...
Malta Public Transport has launched a new digital signage system across key transport hubs in Malta and Gozo, providing passengers with real-time travel information. The system has been ...
The United States launched what it described as “self-defense” strikes against Iranian military targets after three US Navy destroyers came under attack in the Strait of Hormuz, sharply ...
French shipping giant CMA CGM reported that its vessel San Antonio was attacked while passing through the Strait of Hormuz, leaving several crew members injured and the ship damaged. The...
Thousands of Cuban security personnel have begun leaving Caracas after nearly two decades in Venezuela, as Washington ramps up efforts to dismantle the long standing alliance between the...
María Corina Machado is a prominent figure in Venezuela’s opposition. She has reported that one of her closest associates, Juan Pablo Guanipa, was abducted. This occurred mere hours afte...
Ukraine’s anti-corruption authorities have named former presidential chief of staff Andrii Yermak as a suspect in a major graft investigation involving alleged money laundering.
Accor...
Ukrainian President Volodymyr Zelenskiy said that Russia has no intention of ending the more than four-year-old war with his country and Kyiv was preparing for further attacks.
Zelen...
