Services sector ‘a mixed bag’ as volumes grow but higher costs hit profits
Demand in the services sector held up in the three months to August, with volumes in business and professional services growing at the fastest pace in over a year.
However, rising costs in both sub-sectors are eroding profitability, according to the CBI’s latest quarterly Service Sector Survey.
Business and professional services firms – which include accountancy, legal and marketing firms – reported that business volumes grew at the fastest rate since May 2016, while consumer services companies – which include hotels, ba... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
