Uncertainty shrouds the UK services sector, says KPMG | KPMG | UK

Uncertainty shrouds the UK services sector, says KPMG

Uncertainty shrouds the UK services sector, says KPMG

Justin Zatouroff, head of business services at KPMG UK, comments on the IHS Markit / CIPS UK Services PMI figures published today.

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Justin Zatouroff, head of business services at KPMG UK, comments on the IHS Markit / CIPS UK Services PMI figures published today. He said:

 

“Today’s data suggests that continued cost pressure on both wages and fuel, together with challenges in finding key staff and consumer confidence are putting a brake on the service sector‘s expansion. Despite this, the sector has managed to grow, highlighting its underlying strength and diversity.

 

“Looking ahead, geopolitical issues will continue to be a key factor in determining growth - uncertainty in the form of potential trade wars and a continued lack of clarity around trading arrangements under Brexit, will have a direct impact on services.  No one in the services sector will look at these figures and believe they can afford to be complacent.”

 

ENDS

 

For media enquiries, please contact:

 

Nahidur Rahman, KPMG corporate communications

T: +44 (0) 20 7694 8812

M: +44 (0)73 9376 0775

E: nahidur.rahman@kpmg.co.uk

 

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Notes to Editors:

 

About KPMG

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 154 countries and territories and has 200,000 people 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.

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