The CBI’s latest growth indicator report shows that the pace of recovery in Britain slowed to an eight-month low in March, with the private sector indicating weak growth in all sectors, but particularly in the services and retail industries. Of more than 600 firms surveyed, a balance of +19% said output was up, down from +32% in February and the lowest level since July last year. The outlook was brightened, however, by predictions from other organisations such as the Federation of Small Businesses of rising pay across the UK economy. Anna Leach, the CBI's head of economic analysis, said: "As this year progresses, we expect further increases in business and consumer confidence. Productivity and earnings should also start to recover."