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Expectations for 2019 business services performance

10 January 2019

Barclays head of business services Mike Rigby has outlined his thoughts on the performance of the sector last year and the challenges and opportunities for 2019.

He describes business services as playing "a very big part" within the UK economy, accounting for 8% of GDP and 9% of economic output.

Providing employment for 3.3m people, the sector's diversity has seen it deliver strong and resilient performance.

Mr Rigby says there are three main challenges facing the sector in 2019, including increased scrutiny of public sector contracts following the collapse of Carillion a year ago.

Reduced GDP growth is another potential area of difficulty, along with continued access to the labour market.

However, there will be opportunities continuing to emerge in both the private and public sectors and Mr Rigby says those investing in new technology to improve efficiency will also drive growth in a number of areas.

The full version of Mr Rigby's video commentary can be accessed here.

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