Accountants, lawyers and property management companies will be among those to benefit early from an economic recovery, a PricewaterhouseCoopers index has found.

Firms in the business services sector, which also includes computer technology, advertising, engineering and telecommunications companies are set to benefit early from a cyclical economic upswing.

The sector has the highest price earnings ratio – share price relative to annual income, putting it in a strong position for accelerated long-term growth.

In contrast, the PwC upturn index predicts that metal products, textiles and food manufacturing companies will be among the last to benefit when the economy begins to recover.