Firms expect a surge in output in the final quarter of this year, according to a survey of 778 private companies by the Confederation of British Industry (CBI).
The survey revealed that businesses anticipate strong private sector growth of +22% over the next three months.
However, data for the three months to September revealed that output growth across the manufacturing, distribution and services sectors stayed ‘broadly flat’ at +3%.
This represented a slowdown in activity when compared to the previous quarter’s figure of +8%.
Rain Newton-Smith, Chief Economist at the CBI, stated: ‘While the economy has seen slight growth . . . firms are confident that autumn will bring a surge in activity.
‘With businesses keen to build momentum for the rest of the year and into 2017, they want the Government to outline clear plans for negotiations to leave the EU and deliver an Autumn Statement that will drive investment and deliver economic growth and prosperity.’