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Service sector companies ''seeing fortunes diverge''

26 May 2011
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Service sector companies ''seeing fortunes diverge''Although there has been "modest growth" in some areas of the UK service sector, other firms have seen a sharp decline in their fortunes over the past three months, it has been reported.

According to the Confederation of British Industry (CBI), the most recent quarterly statistics for the field demonstrated the expansion of trade volumes and values in business and professional services organisations.

However, the data also revealed a steep drop in such factors for consumer services companies, including restaurants, bars and travel specialists, as people cut back their spending because of the economic climate.

Employment within the business and professional services field also grew over the period in question, with staff numbers increasing at the fastest rate since May 2008, while average selling prices contracted slightly.

Individuals interested in operations training courses are advised that the performance of consumer services businesses was much weaker, with five quarters in a row of volumes and values declining and a sharper monthly dip than anticipated.

The CBI recently reported that high street annual sales volumes for May "remained subdued", with retailers forecast this trend will continue into June.ADNFCR-3058-ID-800557930-ADNFCR
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