Confidence is improving in the UK logistics sector, according to a survey of senior executives commissioned by Grant Thornton and Barclays.

The bi-annual Logistics Confidence Index gave a reading of 60.3 for the first quarter of 2013. Compared with six months ago, this represents an increase of 15%

Director of corporate finance at Grant Thornton Philip Bird said: ‘The cautious optimism we’re seeing in the sector supports much of the more recent economic data that has been published’.

Report results show that 35% of those surveyed expect improvements for business conditions through the rest of the year, while 71% predict increased revenue over the next year. Similarly, 52% are forecasting a rise in profitability.

As a result, Grant Thornton expects this optimism to push additional expenditure in logistics, as 64% stated they are looking to invest in the coming months. This also relates to growth of employment, with 43% expecting to hire before the end of 2013.

In terms of finding the main cause of the growth, 21% looked to current customers as a main source of new business.

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