Category: Contractor Industry News

A new report has shown that the UK economic recovery is currently 'consolidating', which could be good news for contractors using umbrella companies.

The latest British Chambers of Commerce Economic Survey showed that in the second quarter of 2010, there was sustained growth.

Furthermore, key indicators, including employment expectation, investment plans, export orders and domestic sales have also increased.

However, the report did warn contractors using umbrella companies that the UK could easily slip back into recession, although it added that the manufacturing sector was continuing to provide positive news for the country.

"The UK's economic recovery is consolidating and these results support the view that GDP growth strengthened in the second quarter of 2010. However, the recovery is fragile and is not yet secure," said David Kern, chief economist at the BCC.

Earlier this month, Matthew McEachran, retail analyst at Singer Capital Markets, said that the housing sector was looking good for contractors using umbrella companies.

Posted by Daniel Frost