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Economics, government & businessLatest News

Financial services sector set to grow

by Personnel Today 30 Mar 2010
by Personnel Today 30 Mar 2010

The UK financial services sector is to see faster growth over the next three months, after a slow last quarter.

A survey by the Confederation of British Industry (CBI) found confidence in the sector was continuing to improve. Almost half of respondents (43%) said volumes had risen, while 42% said they had fallen. According to the CBI, this 1% positive balance was better than expected.

Over the next quarter, 48% of respondents expect an increase in business volumes – the best result since March 2006, which saw a balance of 58%, the BBC has reported.

The CBI said: “Activity in the financial services sector held steady in the last three months, and there are signs of better things to come.”

But the same survey found 74% of respondents were worried about how regulation would hit their growth prospects.

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