• Service sector recovery ‘bumpy’

The UK service sector fell in the three months to November, according to the CBI’s latest quarterly survey.

For consumer services, the value and volume of business fell, with 30% of those surveyed seeing the value rising and 38% dropping, giving a balance of -8%. Ian McCafferty, chief economic adviser at the CBI, said: "The recovery of the service sector is proving bumpy in the face of sluggish demand. Consumers are cutting back on leisure activities and other discretionary spending, which led to a surprise fall in business volumes and flat profits this quarter."

See the full release here:
http://www.cbi.org.uk/ndbs/press.nsf/0363c1f07c6ca12a8025671c00381cc7/345527cf227f2e32802577e7003f1f02?OpenDocument

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