Service and engineering sectors are the place to be for umbrella contractors

(2 minutes to read)

There was good news for umbrella contractors in the engineering and service sectors this month, as both demonstrated significant growth in the most recent Markit/Chartered Institute of Purchasing and Supply (CIPS) Purchasing Managers Index. The engineering sector – which is divided into the three categories of housing, civil engineering and commercial – grew across the board, the first time this has happened  since Spring 2011. The index also showed that activity in December in the service sector was at its highest level since mid 2011. All great news for umbrella contractors working in these key areas.

Markit’s chief economist Chris Williamson commented, “Service sector companies reported surprisingly buoyant business conditions in December, with activity and new business growing at the strongest rates since July. The December survey rounds off a reasonable fourth quarter for the service sector, which is likely to again provide the main stimulus to overall economic growth.” It seems that the overall uncertainly in hiring plans and a general lack of business confidence is proving positive for contractors who work through umbrella companies! As always, this vital resource continues to offer an experienced alternative to permanent employees, which is also very low risk.

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