Umbrella company contractors working in the financial services sector could see more demand for their services after PricewaterhouseCoopers and the CBI announced that the sector was still growing.
The industry has now witnessed growth for eight consecutive quarters and the rate of growth in the first quarter of 2012 was above average. There was also an unexpected increase in hiring activity as 19% of financial services firms took on new staff after the turn of the year. Optimism in the sector has now increased for the first time in twelve months.
IT contractors also look well placed to benefit from additional opportunities as organisations look to increase their investment in new technology over the coming 12 months.
The chief economic adviser at the CBI, Ian McCafferty, said the recovery in the financial services sector was now on a firmer footing. Concerns over the problems in the Eurozone seem to have receded and business optimism and investment intentions have improved.
However, financial firms still face challenging conditions as business levels have still not recovered to normal levels.
UK corporates are displaying increased levels of confidence, but they are still holding back when it comes to increasing their spending, according to Deloitte.
The economic picture is blurred at the moment with the OECD predicting that the UK economy would fall back into recession in Q1, whilst other analysts predict economic growth in the first three months of 2012.
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