Headlines Thursday 6th June

Economic

The UK economy is firing on “all cylinders” after the powerhouse services sector repeated the success of both the manufacturing and construction industries by storming to stronger than expected growth last month according to the purchasing managers’ index produced by Markit and the Chartered Institute of Purchasing and Supply. Index rose to 54.9 in May from 52.9 in April.

 

Recruitment

Finance workers are happy in their career even in the wake of a credit crunch according to a study from recruiters Randstad. Despite the fall in headcount in the sector since the crisis, 46 per cent of financial services workers are happy with their career progress. Insurers are the most positive with 73 per cent happy with their progress, followed by property workers on 59 per cent and lawyers at 55 per cent.

 

Personal Finance

Coalition has scrapped plans for a childcare shake-up allowing nursery staff and childminders to look after more children. This proposal was championed as a way of cutting cost to parents and driving up standards.

 

Property

A boom in the number of FTBs has been reported by LSL Property Services with the number new purchases by new owners soaring by 78.6 per cent in April compared to a year ago. 10,000 more houses were snapped by people who have never owned homes before. The number of new homes bought in April was up 15 per cent up in March with 22,000 new owners managing to get a foot on the housing ladder in just a month. However,  LSL warned that policies such as FLS and Help to Buy could inflate property prices and become counter productive.

 

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