Economic recovery ‘being led by manufacturers’, says CBI

Manufacturers lead the way as Britain’s economy enters a ‘recovery phase’, says CBI

Britain’s economy has entered a ‘recovery phase’, with manufacturing leading the way, the latest figures from the Confederation of British Industry indicate.

The report, compiled from a survey of 752 firms, concluded: ‘The pace of decline in activity is expected to ease further over the next three months. Manufacturers are the most optimistic, as the only sector expecting a return to growth.

‘Next are retailers, who expect sales to stabilise, while service firms expect the rate of decline to continue to ease.’

The findings from the CBI will bolster hopes of a so-called V-shaped recovery

The findings will bolster hopes of a so-called V-shaped recovery.

The survey found a big increase in firms saying they were ‘completely operational’, either on company premises or partly remotely, such as from home. This rose from 50 per cent in June to 67 per cent in July.

Respondents said one-metre social distancing had allowed them to operate at 85 per cent capacity, compared to 72 per cent under the Government’s two-metre rule.