The economy is displaying further signs of bottoming out, according to a survey by interim management provider Russam GMS.

The survey shows that there was a 4% fall in interim volumes in last six months, compared with an 11% fall from the six months from June to December 2008.

Average daily pay fell just £10, from an all time high of £611 in December 2008 to £601, while pay rates for part-time interim managers actually increased from £600 to £602.

Pay increased for interim managers in sales and marketing, pharmaceutical, not-for- profit and the private sectors, while pay fell for retail and food, education and IT and professional services interim managers.

Charles Russam, chairman of Russam GMS, says: “There are definite signs of optimism in the interim management market. The rate of decline has slowed considerably in the last six months so we may have seen the worst of the recession.

“As in previous recessions, more companies have  been employing interims on a part time basis, showing that demand is clearly there but companies are being more cautious and cost conscious so less willing to use interims on a full-time basis.”