Business group the CBI says UK growth is “slow but solid” despite its figures pointing a slowdown across all industry sectors.

Research by the organisation involving 749 large UK businesses revealed slower growth across the board in the third quarter of the year, with manufacturing particularly weak because of drying up export orders from the Eurozone.

But the research showed that more businesses were experiencing growth than not. The positive balance of 19% was only slightly down on last month’s balance of 23%.

Businesses were also confident of future growth with a balance of 25% predicting slightly stronger results; in September the balance was 27%.

But the CBI admitted that many businesses had scaled back expectations; in August the balance was 38%.

The results will add to fears that poor economic performances across Europe could be impacting on the UK’s economy and that growth will be hindered in coming months.

“The economy is continuing to grow at a slower, but nonetheless solid pace,” Rain Newton-Smith, CBI director of economics.

“This isn’t surprising since we expected growth to tail off somewhat in the second half after a strong start to the year. Despite all the international headwinds, it’s encouraging to see our surveys showing a steady expansion in the UK economy.

“Nonetheless…faced with huge political and economic uncertainties, ranging from a weak Eurozone, a deteriorating outlook for emerging markets and an increasingly febrile geo-political climate, it’s little wonder that firms have been gradually scaling back their predictions for growth.”