According to the Confederation of British Industry, confidence in the service sector is at its highest since May 2004. Their latest survey has shown that over 35% of businesses have seen an increase in value over the past quarter, compared to 22% for the previous 3 months.
Employment has risen at the fastest rate since November 1998. A warning has been given, as despite strong growth in business values and jobs, profitability is expected to fall in the next few months.
Our view
Great news pre election. Great news for all those who need work. If employers are confident then we are all in a better position.