This month's survey revealed renewed weakness within the consumer service sector, with rapidly falling volumes of business and profitability, and a sharp deterioration in confidence. By contrast, though optimism also fell for firms in the business & professional sector, there are signs of an improving business outlook here, with business volumes picking up and expected demand constraints softening.
Consumer Services
Business optimism continued to deteriorate over the past three months. Growing uncertainty about the possible implications of the crisis in Iraq upon the incipient economic recovery is the most probable factor behind the weaker business sentiment.
The volume of business declined over the past three months, against expectations for a moderate rise.
