Contractors, recruiters and umbrella companies across the country would have been pleased by the official growth rate figures, released yesterday.
According to the Office of National Statistics (ONS), the UK Gross Domestic Product (GDP) grew by 0.2% during the first quarter of 2010. This is slightly down on the 0.5% figure predicted by many financial commentators, but still heading in the right direction, particularly since some economists anticipated a double-dip recession.
The ONS revealed that the positive growth rate was largely attributable to the financial sector and business services, although both utilities and the manufacturing also boasted encouraging growth figures despite the bad weather at the beginning of the 2010.
A spokesperson from The British Chambers of Commerce said that although a positive GDP should please the majority of SMEs, the growth rates were still lower than expected and are another sign of the challenges facing the UK economy.
With only 2 weeks to go until the general election, the possibility of a hung parliament is still very much a possibility. Yet regardless of who wins, the next 18 months are expected to be pretty painful for most in the freelance marketplace, with wide scale public cost cutting and the prospect of more legislation in the form of the Agency Workers Directive.
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