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Optimism slides in services

Business optimism across the UK service sector weakened over the last three months, according to the latest CBI Service Sector Survey.

In the three months to November a balance of -55% of firms in business and professional services reported a decline in sentiment, the sharpest fall since May 2020.

Charlotte Dendy, head of economic surveys at the Confederation of British Industry, said: "Strong cost and price pressures are continuing to hurt services firms, damaging optimism and investment intentions, and hurting profitability.

"While firms welcomed the Autumn statement, the sector is looking for longer-term measures from government to spur business investment and bolster confidence into 2023 and beyond."


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