Containers are stacked at the Port of Felixstowe, Britain. REUTERS/Peter Cziborra/File Photo
LONDON: British firms expect output to slide over the next three months, in their gloomiest outlook since September 2022, as the implications of US tariffs and higher payroll taxes weigh on the private sector, an industry survey shows.
The Confederation of British Industry (CBI) said the output expectations gauge of its surveys of the services sector, manufacturers and retailers fell to a net balance of minus 30 in May, down from minus 21 in April.
