Light at the end of tunnel?
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It’s now over five years since the UK economy started to shrink. So is there any light at the end of the tunnel for hard pressed businesses? Well, the short answer is a qualified ‘Yes’.
That’s certainly the view of The Governor of the Bank of England, Mervyn King. He’s been at the helm throughout the recession and in his most recent quarterly inflation report he gave his most upbeat assessment for the past five years. His view is that recovery is in sight. Both he and the CBI are predicting growth, albeit at a modest 1%, for the remainder of 2013.
The most recent KPMG Markit REC ‘Report on Jobs’ has positive news on the jobs front. Whilst not predicting a jobs boom it does reveal that the outlook for the UK jobs market is improving. The figures for April show that permanent placements continued their seven month upward momentum – at a rate that has been accelerating since March.
Building and manufacturing are both key drivers of the economy. There’s good news on both fronts here too. Manufacturers’ order books and output are expected to strengthen in the coming months. Respondents to the Markit/CIPS UK Construction Purchasing Managers’ Index (PMI) showed optimism for the rest of the year, with the majority anticipating a rise in activity.
With more businesses starting to employ additional permanent staff, they might benefit from Driver Hire’s permanent recruitment service
. Taking on the recruitment service yourself can be expensive, not to mention frustrating and time-consuming; turning to a professional recruiter takes away the strain and lets you get back to your day-to-day role of building your business.
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