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Key service sector indicators slowing

13 October 2010
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Key service sector indicators slowingThe service sector witnessed all key indicators of growth slow during the third quarter of 2010, a new study shows.

Research carried out by the British Chambers of Commerce (BCC) showed that expansion is continuing, but at a slower rate than that seen earlier in the year, as the economy recovers from the global downturn.

According to the organisation's latest Quarterly Economic Survey, some balances in the manufacturing industry weakened during the three months to September and "serious challenges will be faced by the business community over the coming year" as the government imposes austerity measures.

More than 5,000 businesses were polled for the report, which indicates a decline in the pace of growth from strong figures for the second quarter of 2010, something that may be of interest to those concerned with demand planning.

BCC director general David Frost remarked: "These results highlight the fact that wealth-creating businesses must be supported for Britain to achieve a sustainable recovery."

In related news, recent statistics from the CIPS and Markit revealed an increase in service sector activity during September 2010, with the purchasing managers' index for the field rising from 51.3 in August to 52.8 last month.ADNFCR-3058-ID-800113841-ADNFCR
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