Fears over UK growth and political uncertainty in France and Germany making firms reluctant to hire staff

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Recruitment companies have warned about declining confidence across Europe and the UK, as political uncertainty adds to concerns about economic growth.

The FTSE 250 recruiter PageGroup said on Monday that profits had dropped by nearly a quarter in Germany and 17% in France during the last three months of 2024, compared with the same period in 2023. Its UK profits fell by 14%, as companies grew more nervous about taking on new staff.