Business News Round Up (09/09/19)
Service sector confidence falls as UK nears recession
According to BDO’s Services Optimism Index, the services sector experienced a sharp drop in optimism in August, falling 3.89 points to 95.49%. The drop in confidence in the services sector has dragged overall economic optimism down by 3.21 throughout August.
https://www.cityam.com/service-sector-confidence-falls-as-uk-nears-recession/
Local government will face £25bn funding gap by 2025
The Trade Union Congress (TUC) and the New Economics Foundation have revealed in a new report that councils will be left worse off by funding reforms and that a no-deal Brexit could further shrink council resources under new funding rules and increase spending demands.
https://aboutmanchester.co.uk/local-government-will-face-25bn-funding-gap-by-2025/
Index aims to boost productivity in Scotland
CBI Scotland and KPMG have launched an annual Scottish Productivity Index to measure the productivity levels of Scottish businesses. The index will analyse 15 key indicators based around four broad areas: business practice, skills and training, health and well-being and infrastructure and connectivity.
https://www.bbc.co.uk/news/uk-scotland-scotland-business-49627041
Science and technology boom to create millions of new jobs in decades after Brexit
New research conducted by BNP Paribas and the Centre for Economics and Business Research (CEBR) found that Britain’s economy will undergo a major shift over the next two decades, in which the economy will be transformed by a boom in the science, technology and healthcare industries, creating a combined 2.7 million jobs.