(Alliance News) - Private sector activity in the UK fell at a slower pace in the quarter to November than in previous months, new research suggests.
The Confederation of British Industry said surveys of over 600 companies showed that sales in the distribution sector grew at the fastest rate since May 2019, although the decline in manufacturing and consumer services remained similar to previous months.
The business group said the pace of decline is expected to pick up again, with distribution sales falling back into the red and increasing in manufacturing.
Alpesh Paleja, CBI lead economist, said: "While the quarterly decline in private sector activity appears to have eased, it's likely that some of our surveys capture demand brought forward before the second English lockdown came into force.
"It's clear that many businesses have seen a hit since, as illustrated by the continually steep fall in consumer services activity.
"With a new tier system in place from December, businesses facing ongoing restrictions must receive the financial support that they need to make it through to the spring.
"Firms will also need to know what support will be available beyond this in advance, rather than it going to the wire.
"Getting this right now will build the foundations for a sustainable post-Covid economic recovery."
By Alan Jones, PA Industrial Correspondent
source: PA
Copyright 2020 Alliance News Limited. All Rights Reserved.