Sharp fall in UK business activity forecast as economic gloom deepens

CBI survey finds firms planning to reduce hiring amid weakest expectations for growth since November 2022

British firms are predicting a sharp fall in business activity in the new year, in the latest economic snapshot to warn of an increasingly gloomy outlook for the UK in 2025.

The growth indicator survey from the Confederation of British Industry (CBI) indicates firms are preparing to cut down on hiring and reduce output over the next three months.