The quarterly consumer and business and professional services survey from the CBI suggests that profitability has unexpectedly fallen in both sectors in the last three months. Business levels are well below normal.
The value and volume of business in consumer services fell in the last quarter. They had been expected to rise but 30% of companies said they fell against 21% who said it rose. Prices and costs both continued to go up. An improvement is expected over the next three months.
Value of business fell in business and professional services but volume didn't change very much as was expected. Value and volume are seen as well below normal. Prices have been cut but costs per employee increased and profitability was said to have fallen as a result. It is expected to continue falling over the next three months.
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