Justin Zatouroff, head of business services sector at KPMG UK comments on the CIPS/IHS Markit PMI figures for the services sector.
“Today’s data suggests that business-to-business sales grew in February, helped by the improving global economic backdrop. However, stretched household budgets continue to hold back domestic consumer demand. Anecdotally, the sector’s ability to increase operational capacity was limited by a tightening labour
market plus the ongoing challenge of finding skilled workers. This trend needs to be watched closely as reduced inward migration may result in an even starker lack of work-ready talent post-Brexit.”
- ENDS -
Notes to Editors:
For media enquiries, please contact:
Nahidur Rahman, KPMG corporate communications
T: +44 (0) 20 7694 8812
M: +44 (0)73 9376 0775
Follow us on twitter: @kpmguk
KPMG Press Office:
T:+44 (0)207 694 8773
KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 14,500 partners and staff. The UK firm recorded a revenue of £2.2 billion in the year ended 30 September 2017. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 152 countries and has 189,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.
© 2018 KPMG IFRG Limited is a UK company, limited by guarantee. All rights reserved. KPMG IFRG Limited, registered in England No 5253019. Registered office: 15 Canada Square, London, E14 5GL, UK.
KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.