Positive News for UK Economy
There’s some Positive news for the UK economy from the British Chambers of Commerce, with their quarterly business survey suggesting the economy grew by 0.6% in the second quarter of 2013.
The rise in confidence is partly driven by export sales, which hit their highest level since the survey began in 1989. Employment balances also rose following a decline in the previous quarter, with +19% of manufacturing companies creating new jobs. The service employment balance (which incorporates financial and accounting roles) rose nine points, to +15%, the best level since the first quarter of 2008, while the service employment expectations balance rose 11 points, to +22%, the best since the final quarter of 2007.
“The improvement in most key balances in quarter two, building on the upturn recorded in the first quarter, supports our view that the UK economy is slowly strengthening,” said British Chambers of Commerce chief economist, David Kern. “If recent progress can be sustained, there are realistic hopes that growth forecasts will be revised up further.”
And although businesses are feeling positive, that doesn’t seem to be translating to their balance sheets: cash-flow balances in both sectors are weak, increasing by just two points to +4% in manufacturing, and falling by five points to +1% in the services sector.
“We’ve certainly seen a slight increase in confidence in the market, and a steady upturn in Accountancy Vacancies in Norfolk across all levels since the Spring,” said Big Sky Additions’ director Justin Murray. “As a result, we have welcomed Tina Maguire to our recruitment team to ensure that we can continue to cope with rising demand for our Accountancy Recruitment services and maintain our one to one style of working to deliver exceptional customer service to all of our clients,” he added. “Tina’s extensive local business network cements our position in the Norfolk and Norwich jobs market by ensuring that we continue to be knowledgeable about all movements and developments.”
For further information and support in your financial and accountancy recruitment please call Justin on 01603 516230