Business services monitor: third quarter 2010

After five quarters of decrease, turnover in business services was slightly higher in the third quarter of 2010 than twelve months previously. Business services companies were positive about the current economic climate. They expect turnover to increase further in the fourth quarter of 2010. They also expect prices to rise and to recruit more staff.

Modest turnover growth

In the third quarter of 2010, turnover in business services was 0.4 percent higher than in the same period last year. This turnover growth follows five quarters of turnover loss. Technical testing and analysis services, advertising agencies, market and opinion poll agencies and travel agencies showed the highest growth rates. Turnover of travel agencies grew by most: their turnover was nearly 12 percent higher than in the third quarter of 2009. Turnover of architects decreased by well over 12 percent compared to a year earlier; architects suffered the largest loss of all branches of business services in the survey in the third quarter.

Year-on-year turnover changes

Opinions remain slightly positive

The Business Sentiment Survey of October 2010 shows that companies providing business services were slightly positive about the current economic climate for the third quarter in succession. Opinions on the economic climate dropped to a low point at the beginning of 2009, but since then they have improved consistently.

Opinions on the economic climate

Higher turnover expected

Business services companies expect turnover, prices and their future workforce to rise in the fourth quarter of 2010. A net four out of ten companies expect a higher turnover for their company; 5 percent net expect prices to rise and their workforce to increase.

Expectations for the fourth quarter of 2010