Consumer-facing firms are gloomy about the recovery due to staff shortages.

Consumer-facing firms

Consumer-facing firms

Despite an increase in sales volume, confidence about the general company condition declined from +47 percent in the previous quarter to -17 percent in the three months to August. Consumer businesses' top concerns were 56 percent uncertainty about demand and 46 percent increased concerns about labour shortages, up from 9 percent in the previous quarter.“Firms in sectors such as hotels, restaurants and travel, do not expect this strength to persist into the next quarter, reflecting the pressure that consumer services firms continue to face,” said Charlotte Dendy, CBI’s principal economist. “With the vaccine roll-out continuing to deliver, it is vital that this autumn is used by the Government to help unlock investment in the private sector to cement the economic recovery,” also added by Dendy, suggesting the change of the business rate system would be a great area to start.While many firms are still struggling as a result of Covid-19, other industries are rebounding, according to the report.

Businesses and professional services firms had a much more upbeat attitude, with optimism about the overall situation growing from 31% to 63%. According to the poll, whereas the professional services industry is expecting a 30% increase in volume in the coming quarter, consumer-facing enterprises are predicting a 10% decrease.

Source: CITYA.M

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