Liverpool businesses 'more confident' on profits
Liverpool Chamber of Commerce's latest quarterly economic survey suggests that business owners in the city are more confident of improving profitability despite pressure on sales.
The survey said there are also signs that the private sector is taking up at least some of the slack in the jobs markets created by public sector cuts – with small majorities of both manufacturing and service companies reporting an increase in staff numbers.
Brian McCann of Vanguard Corporate Finance, which sponsors the survey, said: "Many of our well-run private sector companies took action to reduce costs early in the recession and they have also tightened up on cash management and credit control.
"This means that they are now feeling the benefits of even small improvements in sales and are confident enough to hire some additional staff on a carefully managed basis."
Gerard Lane, Shore Capital’s strategist, added: "The key indicator in my view is that the private sector appears to expect to increase employment in the next three months. If this translates through to an a round of hiring and not firing then the recession conditions currently being reported in the UK may ease over coming months."
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