Hays
14% Fee growth rate in Germany
It is becoming increasingly difficult to read the runes from the global recruitment specialists as they report on trading for the last few months of last year. As I have said before, this is important because they are a good measure of business confidence and the general direction of the economy.
What is emerging, and what is apparent from the update from the largest, Hays, is that the parts are moving in different directions, in what one analyst describes as “an unsynchronised global recovery”. This is in contrast with other upturns, which tended to be more symmetrical.
The cause here is the oil price and China, I suspect, plus drag from the strength of sterling against the euro