News
The service sector growth could be good news for manufacturing freelancers
04 November, 2009
According to some experts the freelance contractors and consultants in the manufacturing sector could be boosted by the service sector growth.
In response to the latest PMI (Chartered Institute of Purchasing and Supply/Markit Purchasing Managers’ Index) data, which recently recorded the highest expansion in service activity in two years, the economist at the Centre for Economic and Business Research Mr. Benjamin Williamson has said that the data is encouraging for manufacturing, as it is showing a steady increase. However the increase is slow; growth should increase by the end of the year.
Mr. Williamson also said that the PMI statistics were more reflective of economic performance than gross domestic product, with the report revealing that the growth rate for UK services had reached a level of 56.9 - a 26-month high.
Potential economic recovery remains strong in these industries.