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Services sector figures ''indicate best of recovery over''

9 July 2010
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Services sector figures ''indicate best of recovery over''The latest data for the UK''s services sector may be indicative of the country having "seen the best of the recovery" for the economy, one expert has asserted.

According to Capital Economics'' consumer and debt specialist Vicky Redwood, the most recent figures show a decline in the headline activity index has been taking place for three to four months, suggesting "this is more than a June blip".

She claimed that firms are becoming more worried about their future in part because of the emergency Budget and plans to raise VAT from 17.5 per cent to 20 per cent from early January.

Her comments follow the release of the most recent Purchasing Managers Index for services - produced by Markit and the CIPS - which fell from 55.4 in May to 54.4 in June, as activity increased at its slowest rate for ten months.

Those in continuous improvement and operations management roles may also be interested to learn that the measurement is substantially below a three-year high point reached in February, while confidence among firms in the sector dropped at its sharpest rate since the start of the survey.ADNFCR-3058-ID-19882448-ADNFCR
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