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Business Services | Third Quarter 2020

November 2020 – The SCA Business Services Index increased by 4.9% in Q3 2020, compared to a 16.5% increase in the S&P 500. While most Business Services sectors experienced a level of stabilization during the quarter, almost every area is adapting to a “new normal” in which year-over-year sales are expected be down anywhere from 15% to more than 50% as compared to 2019. A recent survey by Staffing Industry Analyst reported temporary staffing revenues are expected to decline by 17% in 2020 with several subsectors down over 30%. Similarly, a recent survey by Chief Marketer projected corporate marketing budgets being reduced by 50% as companies eliminate corporate entertaining, tradeshows, and even elements of digital advertising. A bright spot remains in IT spending, as companies invest in enhanced infrastructure to facilitate expanded ecommerce, virtual customer meetings and work from home employees.

(Please continue reading by downloading the full report.)

November 9, 2020