mpc: 24 The outlook for Q2 was for continued output growth at or a little below the long-run trend rate,
judging by business surveys for April. Prospects in the manufacturing sector had weakened.
The CIPS manufacturing output and new orders indices had both fallen, the latter to below the neutral
50 level, and the CBI
Industrial Trends Survey had also softened. But the CIPS services index
remained at a level that suggested continued service sector growth at around trend.
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