Management consultancy recovery began last autumn

Management consultancy work is showing signs of recovery in the UK, following its toughest year on record.

The industry was particularly badly hit in the financial services sector, traditionally its strongest revenue source. Last year in that sector alone demand dropped by 12%, reports City AM.

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According to the Management Consultancies Association (MCA), the recovery began last autumn, with financial services companies among the first to begin commissioning larger projects.

MCA president Pat Newberry, a partner at PricewaterhouseCoopers, said: “If Britain has got through this recession with lower unemployment than many feared, to a significant extent this was due to the efforts of thousands of management consultants who enabled their clients to cut costs, save jobs and weather the storm.”