Rollercoaster times for the UK service sectorPosted by Alexander Hay
Beware the big dipper as Britain's retail sector nosedives into ever greater depths of decline and recession
The problem with the UK economy is that it depends too much on funny money and people spending that same money as much as possible. We simply don't do enough of anything else any more:
The UK service sector experienced mixed fortunes during the first three months of the year, according to the CBI.
Consumer service firms - such as hotels, bars and restaurants - saw a "sharp" decline in trade, as households cut back on spending.
However, business services - such as accountancy and marketing - saw "modest" growth and expect stronger trade to pick up in the coming months.
Both sectors said they had seen costs rising over the quarter.
The service sector accounts for about two-thirds of the UK economy...
[SOURCE: BBC News]
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