The CBI’s view is based on a survey of 752 business people spread across the manufacturing, retail and service sectors.
The survey showed a reading of +14% in the three months to June, compared with +33% in May.
This slowdown was largely due to May’s fast pace of growth in business and professional services not being sustained, the CBI said.
Nonetheless, most respondents were bullish on the chances of growth bouncing back in the next three months, with 32% more people responding positively than negatively.
“Despite an easing in performance this month, activity over the quarter as a whole has been good,” Rain Newton-Smith, CBI Director of Economics said.
“We expect the economy to sustain a solid pace of growth over the remainder of the year as lower oil prices and inflation continue to boost real incomes and consumer spending. “But exporters face real challenges, especially from the impact of a stronger pound against the Euro and still weak global export markets.
Newton Smith added that whatever the results of the referendum in Greece, the CBI wants to see eurozone leaders to move quickly towards a deal which provide certainty for Greece and the wider eurozone.
