CIPS worry for services
June 1st 2010 Purchasing managers reporting into the Markit/CIPS Purchasing Managers’ Index for services show slight gains in May but although activity rose for the 13th consecutive month, it was at its weakest for nine months. Levels of new business continued to rise, but employment dropped as companies tried to control costs.
David Noble, CEO of The Chartered Institute of Purchasing & Supply said: "On the surface, the recovery of the UK services sector continued at a steady pace but a look under the bonnet reveals some worrying signs and raises concerns about the prospect of double-dip recession.
“Most alarming was the slower growth in new business, which coupled with ongoing input price inflation drove a number of firms to reduce staff for the first time in three months.” More articles from Handling & Storage Solutions: | 
