The service sector saw lower profits in the quarter due to an unexpected sales dip that kept business levels at well below normal according to the latest CBI Service Sector survey.
Business and professional services measures fell when they had been expected to strengthen further. profits fell for the sixth quarter in a row. Consumer services volume and value fell sharply and by more than expected causing a dip in profits.
Both the business and professional sector and the consumer services sector put the falls down to lack of demand or sales which they say is also the biggest constraint on future growth. Fund raising was also cited as a key concern.
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