–CBI: Q3 Consumer Services Optimism Net -29% Vs +10% In Q2
–CBI: Q3 Consumer Services Volumes Past 3m Net -25% Vs -23% In Q2
–CBI: Q3 Business Services Optimism Net -22% Vs +23 In Q2
–CBI: Q3 Business Services Volumes Past 3m Net -22% Vs +5% In Q2
LONDON (MNI) – Optimism in the services sector plunged in the third
quarter and business volumes fell, according to a CBI survey.
The August survey showed optimism and volume balances nose-diving
in Q3 compared to Q2 in both the consumer services and
business/professional services sectors.
The Bank of England predicted a rebound in growth in Q3, after
second quarter growth was hit by one-off factors including the extra
Bank Holiday for the Royal Wedding and the supply side hit from the
Japanese Tsunami, but the CBI data shows the service sector struggling
more in Q3 than Q2.
Business optimism in the consumer services sector dropped to a
balance of -29% in Q3 from 10% in Q2, while a net 38% reported business
volumes below normal compared to a net 34% in Q2.
The Q3 business volume balance in consumer services for the past
three months declined to -25% from -23%. The value of business balance
was little changed in Q3, at -15 compared to -16 in Q2.
In the business and professional services sector net optimism
plunged to -22% from 23% in Q2. The volume of business for the past
three months plunged to -22% from 5% in Q2.
Things are expected to get relatively better in the fourth quarter
in consumer services, with the net volume balance for the next three
months coming in at -1%. In business services the net balance for the
next 3 months was -14%.
–London bureau: 44 20 7862 7491; email: drobinson@marketnews.com
[TOPICS: M$B$$$,MABDS$]
