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Impressive business activity pushes recruitment up

18 Mar 14  | Recruitment News
  Although the bad weather remained to be an issue in February, business activity saw an impressive growth and as a result, firms took on a record number of staff.

According to freshbusinessthinking.com, a report from Markit and the Chartered Institute of Purchasing and Supply (CIPS) reveals that in February, the number of jobs created grew at the fastest pace seen in 17 years.
 

This is likely due to the fact private businesses continue to perform well, as activity across all sectors grew for the fourteenth month in a row last month.

Although output continues to decline from record figures seen in October 2013, any figure above 50 indicates growth, meaning businesses are still performing well despite the slight drop.

Chief economist at Markit, Chris Williamson, says it's surprising that businesses have done so well considering how bad the weather has been. "There's no end in sight to the good news," he states, reports reuters.com.

"With business confidence in the services economy rising, growth should pick up again in March, adding conviction to the growing consensus that the economy is set for its best year of growth since 2007, with the rate easily surpassing the 1.8 per cent expansion seen last year."

The report also shows that the economy remains to expand at the same pace seen at the end of last year, as since January it's grown 0.7 per cent.

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