CBI: UK economy expected to grow after 'solid start' to year

Carmen Reichman
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The Confederation of British Industry (CBI) has estimated the economy grew by 0.7% in the first quarter of the year and will "gather momentum" over the next quarter.

The estimated growth compares to a 6% economic expansion in the previous quarter. The business lobby group pointed to stronger growth in the distribution and consumer services sectors in March, compared with the previous month. It said it expects this sector to continue growing in the coming months, alongside the manufacturing and business & professional services sectors, which had performed less well having felt "the effect of stronger competition". The main risk to the UK economy comes from uncertainty in the Eurozone around Greece's bailout package and the effects on export trad...

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