Our response to latest GDP statistics

Rain Newton-Smith, CBI Chief Economist, said:

“It’s good to see that the economy continued to make progress in clawing back from the decline felt earlier this year. Yet a long-lasting recovery is by no means assured. While necessary, the combination of restrictions re-introduced in September and rising infections will be weighing on already fragile business and consumer confidence.

“Getting growth onto a firmer footing will rely on bringing infections under control. Imminent new restrictions must go hand-in-hand with further business support, especially for those harder hit regions and sectors such as aviation, wider transport and hospitality.

“Securing a deal with the EU also remains crucial to securing a sustainable economic recovery. Common sense and compromise must drive politicians on both sides to protect both goods and services trade between the UK and the EU.”