Hays, the recruitment specialists has again said it sees some positive signs in the British economy and in markets such as Asia Pacific, but not a recovery. Hays is a major supplier of IT staff to CIOs.

In its Interim Management Statement Hays chief executive Alistair Cox said (pictured), "We are seeing early signs of stability in the United Kingdom and broader signs of stability in Asia Pacific," but he didn't go as far as calling it a recovery: "Although at present no indications of recovery in either market."

In the UK Hays reported that net fees revenue fell by 37 per cent in the quarter ending 30 September, 2009. In the private sector it saw fees fall 47 per cent and 13 per cent in the public sector. Currently the public sector accounts for 40 per cent of business at Hays.

Hays told the Financial Times that it was finding the public sector market increasingly difficult as local authorities decide not to replace leaving staff.