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Hays sees slowdown in UK business

Recruitment consultant Hays today said lower demand for City and property jobs had cut growth in its UK business by more than half.

The Guildford-based firm's like-for-like income growth in the UK eased to 5 per cent in three months to March 31, compared with 11 per cent in the previous quarter.

Hays said growth in the construction and property sector slowed, "whilst demand in City related activities weakened during the quarter".

But it added that excellent growth in Asia and Continental Europe had partially offset the weaker UK performance.

The company achieved an overall like-for-like income growth of 17 per cent in the period, although this was below the previous quarter's 23 per cent.

The firm said: “Whilst mindful of the current economic uncertainty, the board remains confident in its outlook for the year.”