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03/09/2001
Service sector optimism continues to drop
A survey by accountancy firm Deloitte and Touche, on behalf of the Confederation of British Industry (CBI), has shown that service sector profitability and optimism in the UK have fallen at their fastest rate in three years.
The survey also revealed that Britain's service sector firms are losing confidence in the economy with fears growing of a deepening recession.
Meanwhile, a monthly report by the Chartered Institute of Purchasing and Supply (CIPS) has indicated that Britain's manufacturers are still mired in recession. The data also threw doubt on the health of the service sector, which has remained in relatively good shape while manufacturing has slumped.
Retail sales are also likely to show continuing strength in the latest report by the British Retail Consortium (BRC), which is expected to show a relatively strong August, suggesting that recession in the consumer sector is still a long way off.
Britain's manufacturing sector officially slipped into recession last month as output fell for the second successive quarter, according to the office for National Statistics. (MB)
The survey also revealed that Britain's service sector firms are losing confidence in the economy with fears growing of a deepening recession.
Meanwhile, a monthly report by the Chartered Institute of Purchasing and Supply (CIPS) has indicated that Britain's manufacturers are still mired in recession. The data also threw doubt on the health of the service sector, which has remained in relatively good shape while manufacturing has slumped.
Retail sales are also likely to show continuing strength in the latest report by the British Retail Consortium (BRC), which is expected to show a relatively strong August, suggesting that recession in the consumer sector is still a long way off.
Britain's manufacturing sector officially slipped into recession last month as output fell for the second successive quarter, according to the office for National Statistics. (MB)
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Stimulating enterprise and trade must be a priority going beyond public sector cuts says banking economists. According to the Northern Bank's Chief Economist Angela McGowan, decision-makers need to bring forward measures for growing the private sector alongside anticapated proposals to slim the public sector.
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UK manufacturing slides deeper into recession
Output from the UK’s manufacturing sector has fallen to its lowest level in over a decade, indicating that the sector is sliding deeper into recession. Figures released by the Office of National Statistics have shown that UK factory output fell by 1.6 per cent in September, a drop of 4 per cent on the same time last year.
UK manufacturing slides deeper into recession
Output from the UK’s manufacturing sector has fallen to its lowest level in over a decade, indicating that the sector is sliding deeper into recession. Figures released by the Office of National Statistics have shown that UK factory output fell by 1.6 per cent in September, a drop of 4 per cent on the same time last year.
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Northern Ireland WeatherToday:Any fog and low cloud burning off this morning. Then sunny intervals with a few showers breaking out this afternoon, these mainly across southern counties. Warm. Maximum temperature 21 °C.Tonight:Any showers dying out this evening. Then the rest of the night will be dry with variable amounts of cloud. Low cloud and fog developing in the early hours. Minimum temperature 10 °C.
