Service sector morale hit by consumer slump

first_img CONSUMER service businesses such as bars and restaurants are suffering from sluggish demand, according to a survey released today.Optimism plummeted 22 percentage points among consumer service executives, who have seen the value and volume of their businesses hit.Employers’ organisation the CBI surveyed 169 service sector firms, covering both consumer services and professional services such as accountancy.Thirty per cent of consumer-sector respondents said the value of their business had risen this quarter, yet 38 per cent reported a fall. And the same balance (-8 per cent) expect a decline in value of trade over the next three months.The poor results were a surprise, after modest growth had been expected.The outlook is a little rosier for professional services. While sentiment is still negative (at -4 per cent), it has recovered from its August low of -17 per cent.Volume of business in professional services is narrowly up, increasing by a percentage point to three per cent.Yet Ian McCafferty of the CBI said uncertainty over consumer demand is causing a fall in business optimism.“Consumers are cutting back on leisure spending, leading to a surprise fall in business volumes and flat profits,” he said. Service sector morale hit by consumer slump whatsapp Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proof KCS-content Sunday 28 November 2010 9:32 pm Tags: NULLcenter_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMoneyPailShe Was The Dream Girl In The 90s, This Is Her NowMoneyPailZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter Center whatsapp Show Comments ▼ Sharelast_img

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