Although business confidence in the hotel and restaurant industries has dropped, it is still relatively high.
“This may indicate a normalisation in this sector, as both business volumes and conditions come from a protracted period of above-average levels.”Unlike the other subsectors, the business services subsector was positive in terms of both sentiment and volumes this quarter. “This is reflective of the very low business volumes in this subsector. In fact, business volumes moved in the opposite direction compared to sentiment, plunging deep into negative territory this quarter,” the BER said.
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