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UK service sector shows a decline for the first time since 2009, the expenditures for the accounting is legal and marketing work is greatly reduced

ThisDan Reddit Parts 3 MilmoThe Guardian, Tuesday 30 The decline of the august history 2011Article expenditures for professional services is "new and is not expected," said the CBI. Photo: Getty service sector in the UK, the already dwindling consumer confidence, has suffered another jolt after a surprise fall in the expenditure accounting, legal and marketing work.

CBI quarterly survey of the service industry showed a sudden change in the activity of the force in business and professional services sector and the first fall in full-service sector for almost two years. The profitability of the business and professional services decreased significantly by 38%, with a strong expectation that they will fall again in the next three months. Deteriorates the performance of consumer services - including restaurants, hotels and travel agencies, in which the activity was reduced in a quarter, the biggest drop since November 2009. The sudden slip of business and professional services means that the activity in the services sector as a whole is down, for the first time since November 2009.
"This quarter we have seen further evidence of the continued decline in consumer spending on services, such as people with family incomes more closely will be forced to reduce their spending. What is new, and was not expected quarter, is that spending on business and professional services also fell, something not seen since November 2009, "said CBI chief fiscal policy, Richard Woolhouse.There some encouraging signs in the survey of 162 companies included in the first two weeks in August, with the number of people employed in the service sector consumption falls at a rate slower than expected and increased employment in the industry and professional services. Meanwhile, a lobbyist for the manufacturers in the United Kingdom for more competition in the banking sector called for the warning of a slowdown in lending to industrial companies. The EEF said a survey of 277 companies found that the availability of credit has improved -. But the odds are not better the existing loans, while prices rise on existing loans, "Although the conditions are slowly moving in the right direction, the overall picture remains being as low as we want," said Lee Hopley, chief economist of the EEF. "With the clouds of global uncertainty and establish enough for the investment companies have now is the time we least afford additional restrictions imposed by the difficult access to finance can add."


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