Service sector "growth" not all it seems
 

Some recent news items:

Charlie Mayfield, chairman of department store group John Lewis, warned yesterday the recent recovery in consumer confidence could prove a “false dawn”."

"The UK services sector continued to shed staff in February, in spite of the growth in activity", according to CIPS.

Howard Archer, chief UK economist at consultancy IHS Global Insight, said: “ it must be borne in mind that the survey evidence on the services sector has tended to be stronger than the hard data,”

"The services survey provided some room for optimism in the wake of official data which showed a 1.8% month-on-month tumble in UK retail sales volumes in January. However, CIPS’ surveys have painted a stronger picture of the UK economy than official data in recent times."


So it seems we should be treating the news with extreme caution, and perhaps a pinch of salt.

It will be many years before we are back where we started in 1997 as far as the economy etc is concerned.

les :(