UK businesses report stronger activity in three months to October

London

BRITISH businesses reported stronger activity in the three months to October after an initial slowdown following June's vote to leave the European Union, the Confederation of British Industry said on Sunday.

The CBI said its monthly growth indicator - which is based on surveys of how companies' output has changed over the previous three months - rose to +8 in October from a six-month low of +3 in September. "Manufacturing exports are riding high on the back of weaker sterling and consumers are continuing to spend on the high street, but activity is more modest in the services sector," CBI chief economist Rain Newton-Smith said.