The proportion of companies reporting a decrease in turnover is up, according to the latest Business Trends survey announced by the Electrical Contractors’ Association.
According to the survey, the proportion of members reporting a decrease in turnover rose in the second quarter of 2008 has increased, relative to the first quarter of 2008, while numbers of those reporting an increase have fallen.
Small and medium-sized companies have experienced the greatest drop with more large companies reporting a quarterly turnover increase.
David Pollock, Chief Executive Officer with ECA, said: “The results of the latest ECA member business survey reflect concerns felt by many during this period of economic uncertainty. While some members are still optimistic, we have seen business flatten or decline for others.
“However, it's not all doom and gloom; it is important to note that the industry has enjoyed a long period of growth over the last 15 years and opportunities do still exist. With new technologies constantly evolving, now may be the time to think about diversifying into specialist areas.”
Predictions for the third quarter of 2008 are said to be even more pessimistic, with a balance of 19% of companies expecting a decrease in turnover in the next quarter.
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