Business conditions in the UK services sector continued to deteriorate rapidly


Over the three months to May, the UK services sector has experienced further deterioration. A survey of service providers conducted by the Confederation of British Industry, showed a drop in the balance of business volumes by 19%, which is the most significant decline since August 2012. The profit of service providers in Britain showed the largest drop since November 2011, their figure fell by 24%. It was also recorded a decrease of 8% in company optimism due to the general business situation. This indicator in the business and professional services sector has been declining for the past four quarters. The fall in sentiment in the consumer services sector has been recorded for three quarters in a row. Uncertainty about Brexit continues to negatively affect the sector.

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