Service sector feeling benefits of upswing
The CBI said the service sector is feeling the benefits of the economic upswing with growing optimism and a brisk rise in business volumes.
The survey showed that firms are increasingly confident about the business situation in the three months to May, with optimism rising at the fastest rate since the start of the survey in 1998.
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Hide AdThe CBI said that business volumes rose again, marking a full year of growth.
The survey of 151 firms also revealed that companies have continued to take on more staff and increased expenditure on training.
Katja Hall, CBI deputy director-general, said: “With a full year of growth under their belts, service sector firms are more upbeat than they have been for a long time.
“The recovery continues to strengthen with both consumer and business-facing firms taking on more staff and investing in training and IT.
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Hide Ad“But a rising number of firms, particularly in business and professional services are having problems finding the right staff. This survey identifies a skills gap as a growing constraint on business expansion in the sector over the year ahead.”
Consumer service firms, which include hotels, bars, restaurants, travel and leisure firms, said levels of business are comfortably above normal.