Wednesday - 19 November 2008
News
Professional services firms are being hit by their sharpest decline in business for 10 years, according to the Confederation of British Industry (CBI) business group.
The trade body’s quarterly survey revealed that consulting, accounting and legal services firms were experiencing their worst downturn in business since 1998.
The report also revealed that a quarter of professional services firms also reported lower profits since May.
Ian McCafferty, chief economic adviser at the CBI, said: “This reflects much tougher trading conditions for business and professional firms, after a period when business trends had been holding up in the face of the slowing economy.”
What do you think? Send your views to today's online editor Graham Simons
Professional services
Published: 26 August 2008
The trade body’s quarterly survey revealed that consulting, accounting and legal services firms were experiencing their worst downturn in business since 1998.
The report also revealed that a quarter of professional services firms also reported lower profits since May.
Ian McCafferty, chief economic adviser at the CBI, said: “This reflects much tougher trading conditions for business and professional firms, after a period when business trends had been holding up in the face of the slowing economy.”
What do you think? Send your views to today's online editor Graham Simons
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