Confidence Growing In Service Sector

Confidence is growing in the service sector and firms are more optimistic than three months ago according to the latest services survey by the CBI. It is because business has generally been better and things are expected to continue improve in the coming months. Business are also employing more staff and spending more time on training. The business situation is better than it was three months ago according to consumer service providers. Volumes fell at a similar rate but values fell more slowly due to slower price deflation. Selling prices fell slightly but are expected to rise. Professional and business services firms were much more optimistic than the last quarter. There was an unexpected improvement in both business volumes and values and volumes are expected to continue to grow and growth in values is expected to strengthen. Profitability stabilised when it was expected to fall and is expected to grow in the next quarter.