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Slowdown in the UK services sector
Oct 17, 2001

The latest Quarterly Financial Trends Survey from EULER Trade Indemnity conducted by NTC Research of London indicates that the IK services sector is experiencing a decline. The report, which was released 15 October, shows that the current level of services activity is bellow readings for the 1995 and 1998 slowdowns. According to the report, orders now stand at their thinnest in the survey’s nine- year history. The decline in business activity has affected the sectors profitability, which now stands at levels similar to those of the 1998 slowdown caused by the Asian financial crises.

Indicators include reports of the second, consecutive big quarterly rise in cancelled orders as well as the biggest cutback in orders to date. This is matched by a reduction in the purchasing of goods and services for future production.

The survey reviews companies with an annual turnover of £250,000 to more than £50 million, from all broad industry sectors, including manufacturing and construction to wholesale distribution and business services.

The press release of the report is available at NTC-Research at :

http://www.ntc-research.com/UK/Pdf/ETI%20PR%2001Q3.doc

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