Transport and storage is the best-performing industry in the UK, according to the latest quarterly Business Factors Index from Bibby Financial Services.
The index, which tracks the turnover levels among Bibby Financial Services 3,800 strong client-base, alongside the outlook of 300 business owners across the UK, shows that the sector performed strongly in the fourth quarter of 2010.
Average turnover grew by nine per cent over the quarter and the index reached 126.4 in November, the highest since it began in 2007, before slipping slightly to 120.6 in December when severe weather conditions caused major disruptions to travel links.
However, despite these positive signs of growth within the sector, both confidence and optimism remain the lowest of all the UK’s industries. Some 46 per cent of businesses claim things are really tough and they are only just surviving or have been forced to make cuts. This is only slightly lower than the third quarter when 50 per cent responded in the same manner.
Edward Rimmer, UK chief executive at Bibby Financial Services, said: “It’s evident that the transport and storage sector has experienced a difficult fourth quarter and with further challenges ahead, it’s hardly surprising that the light at the end of the tunnel, in terms of economic recovery, seems so far away to many in the industry.”