Private sector firms expect another significant fall in activity over the next three months (weighted balance of -22%), according to the Confederation of British Industry’s (CBI) latest Growth Indicator. Expectations are broadly unchanged from December, which were the weakest in over two years. This pessimism was widespread across the private sector. Business volumes in the services sector are anticipated to decline (-20%), driven by a predicted fall in business and professional services (-12%) and the weakest expectations for consumer services (-49%) since September 2022. Distribution sales are expected to fall steeply (-30%), and manufacturers also anticipate a decline in output (-19%). To read the CBI’s news release, go to https://www.cbi.org.uk/media-centre/articles/private-sector-expects-activity-to-fall-again-growth-indicator-january-2025/.