Some good news at last – Accountants ‘best placed’ to benefit from recovery

Accountancy Age magazine carried the following story yesterday:

“PwC says business services sector will emerge in the best shape following the recession

Accountants, lawyers and property management companies will be among those to benefit early from an economic recovery, a PricewaterhouseCoopers index has found.

Firms in the business services sector, which also includes computer technology, advertising, engineering and telecommunications companies, are set to benefit early from a cyclical economic upswing.

The sector has the highest price earnings ratio – share price relative to annual income, putting it in a strong position for accelerated long-term growth.

In contrast, the PwC upturn index predicts that metal products, textiles and food manufacturing companies will be among the last to benefit when the economy begins to recover.