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Information technology defied the unexpected downward trend in Britain’s services sector in November, becoming the only area to withstand falling activity and profits. The CBI’s quarterly survey found that a balance of 7 per cent more professional and business services firms reported fresh spending on IT rising rather than falling. The survey, which is based on the activities of 179 firms last month, represents the first positive annual outlook for new IT purchases since at least August of last year. It also contrasts the drop in capital spending allocated over the next 12 months for purchases of land and buildings, and vehicles, plant equipment and machinery. Increasing speed and performance to exploit new technology was also the biggest driver among professional and business service firms poised to approve new budgets. But the survey also shows that the number of firms looking to devote their fatter spending packets on e-business has eased, since it peaked in May of this year. Overall, the sector’s firms’ bottom lines have taken an unexpected hit since late October, as some 21 per cent reported rising profits, while 48 per cent reported a fall. Dec 1, 2009 Email this article Printer friendly page Previous Page
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