Its current account deficit was 4. 5 per cent of gross domestic product at the end of last year, compared with 1. 5 per cent in 2011. "With growth flat at best in the euro zone and sterling having risen in recent months, there are still some headwinds to export demand," CBI Deputy Director-General Katja Hall said. "The industrial recovery looks set to remain domestic-led," said Paul Hollingsworth, Assistant Economist at Capital Economics. "So, the manufacturing recovery looks set to be strong, but not spectacular for now.
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