British economy poised for smooth take-off, says CBI

The British economy is poised for a smooth take-off in 1999, with even struggling manufacturers looking forward to a brighter future, the Confederation of British Industry (CBI) has said. The latest industrial trends survey showed manufacturers in August were expecting their best output figures for almost two years but it added that demand was still weak and prices were still falling.

The survey came as the CBI upgraded its growth forecasts for the British economy in both 1999 and 2000 thanks to stronger than expected consumer spending.