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UK services sector ''sees profitability squeeze''

3 September 2010
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UK services sector ''sees profitability squeeze''Profitability among companies in the UK's services sector dipped in the past quarter, new data show.

Figures from the Confederation of British Industry (CBI) show that both the consumer and business and professional services fields witnessed declines in the value of business during the period in question.

Carried out between July 28th and August 11th, the survey covered 165 industry organisations and found that the rounded balance of consumer services companies reported growth in the value of business stood at minus eight per cent during the three months, with falls in volumes and profitability.

"These survey results highlight that activity across the economy is patchy, with some sectors doing better than others." CBI chief economic adviser Ian McCafferty stated, predicting such conditions will continue into 2011.

Declines were also seen in value, profitability and selling prices within the business and professional services, while volumes remained little changed at plus two per cent.

However, professionals concerned with inventory control techniques may be interested in CBI statistics revealing that high street sales volumes rose during the year to August 2010, the second rise in a row.ADNFCR-3058-ID-800050781-ADNFCR
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