Transport and storage firms finished the first quarter of 2011on a six-month high, according to the Bibby Financial Services’ Business Factors Index.
A sluggish start meant that the Index fell to 95.0 in February, the lowest reading since June 2010 before jumping to 107.2 in March. This takes the quarterly average to 99.9, a significant improvement on last year when it was just 90.3.
Edward Rimmer, UK chief executive at Bibby Financial Services, said: “With all that the industry has had to deal with over the last two quarters, it has done well to remain the third best-performing sector in the UK. However, while there was a strong finish to Q1, many firms appear despondent about the strength of the economy moving forward.”
The Bibby Financial Services’ Index measures the mean monthly turnover of UK based businesses funded by Bibby Financial Services and spans a broad range of industry sectors.