Modest growth in business services sector

The UK's business services sector saw modest growth over the past three months, the Confederation of British Industry (CBI) has said.

Its latest CBI Service Sector Survey revealed that within business and professional services, the value of business increased at the fastest rate since November 2007 by 12 per cent, while volume growth was steady at five per cent, although predictions had put it at 13 per cent.

As for the coming quarter, the 175 firms surveyed believed there would be much stronger growth of around 20 per cent, people in business services sales jobs could be pleased to hear.

However, there was a sharp decline in the consumer services sector.

"Business and professional services firms are feeling more optimistic about their business situation," commented Ian McCafferty, chief economic adviser at the CBI.

"Numbers of employees have also increased and are expected to continue to do so. These are all sure-fire signs that business spending is picking up, which will help drive the recovery."

Furthermore, government figures show that at the start of 2010 there were 48,000 new businesses compared to 2009.

Posted Steve Williams

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