Winter freeze hits UK services sector

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For Show Comments ▼ SNOW and adverse weather during December were blamed for a contraction in Britain’s services sector, yesterday.The country’s largest sector experienced its first decline for 20 months, stalling the recovery. Yet economists hope business activity will pick up this month – assuming there is no return to arctic conditions.“It is worth noting that in January last year, when the weather was similarly disruptive, the index fell, only to then bounce back the following month,” said Simon Hayes of Barclays Capital.The business activity index, compiled by Markit and the Chartered Institute of Purchasing and Supply (CIPS), dropped to 49.7, down from 53 in November. All figures below 50 signal a contraction in the industry. Figures above 50 indicate growth.And levels of new business also fell, “with companies widely blaming the poor weather for market disruptions,” the report said.Yet respondents still expect their businesses to grow this year. “It’s encouraging to see that business confidence for next year continued to improve slowly with the promise of stronger economic recovery,” said David Noble of CIPS.Service sector business expectations increased to 66.5 in the index.Restaurants, hotels and the catering industry were particularly affected by the weather, as well as rising prices.Prices increased even on the previous month, according to more than one in five survey respondents. Input prices increased at the sharpest rate in over two years, the report said.Yet competitive pressures prevented service providers from passing the price rises onto their clients. Absorbing the price pressures, companies reported a decline in their profitability.And companies with government clients reported a weakness in demand from the public sector, as this year’s fiscal consolidation prepares to kick in. whatsapp Winter freeze hits UK services sector More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comcenter_img KCS-content whatsapp Tags: NULL Thursday 6 January 2011 7:29 pm Sharelast_img read more