Private sector activity in rapid decline New figures from the Confederation of British Industry (CBI) showed private sector activity fell 13% in the three months to December, a much steeper fall that the 7% drop seen in the previous month. This is the fifth consecutive quarter of decline with activity expected to fall even faster in the next three months. The CBI predicts activity will fall 22% in the next quarter due to faster declines in business and professional services at 17% and distribution sales at 30%. Martin Sartorius, principal economist at the CBI, said: “The decline in private sector activity over December extends a downward trend that looks set to deepen going into 2023. Businesses continue to face a number of headwinds, with rising costs, labour shortages, and weakening demand contributing to a gloomy outlook for next year.” The CBI's view though is in sharp contrast to what we see in the motorsport sector where we see strong activity.