CIPS file report on services

Source: Supply Chain Digital

Date :03/10/2007 11:57:50

The Chartered Institute of Purchasing and Supply today published their monthly report on the services industry.

The CIPS said that the UK service sector has weathered the recent financial market storm reasonably well up to the end of the third quarter, and although it dipped slightly in September to a thirteen-month low, growth of the UK private sector services economy remained strong and above the long-run series average.

Commenting on the report, Roy Ayliffe, Director of Professional Practice at CIPS, said:

“Despite September’s financial fluctuations, the services sector has enjoyed a fairly robust month. Nonetheless, purchasing managers reported that such uncertainties were a key dampener in the sector’s overall rate of expansion, as it slowed to a thirteen-month low, and that it had affected future market optimism levels too.

“However, the sector still enjoyed an increase in the volumes of new business received, with strong growth in the Transport & Communication and Computing & IT sectors as companies pushed new product ranges, and sales and marketing initiatives.”

October 3, 2007

Related Links

CIPS